Donald Trump will not be participating in the Thursday, Jan. 28 Republican presidential debate, according to a statement released today by the campaign. 

In the statement, the campaign wrote that "Mr. Trump knows a bad deal when he sees one." The campaign added that Fox News is deliberately looking to assert its influence over Trump. 

"Roger Ailes and Fox News think they can toy with him, but Mr. Trump knows a bad deal when he sees one," the statement said. 

Instead of participating in the debate, Trump will host an event in Iowa to raise money for veterans and wounded warriors. 

Trump encouraged his followers to answer whether or not they think he should attend the debate. More than 100,000 people responded with 59 percent voting Trump should attend the debate.

Much speculation has emerged in the wake of the campaign's announcement. Megyn Kelly, one of the scheduled moderators for the debate, is widely believed to be the main source of conflict for Trump.

Trump sent out a video earlier today on Facebook alleging Kelly would be a biased moderator.

"Megyn Kelly's really biased against me," Trump said in the video. "She knows that, I know that, everybody knows that. Do you really think she can be fair at a debate?"

Should I do the #GOPdebate?

Posted by Donald J. Trump on Tuesday, January 26, 2016

While Kelly has yet to respond on social media to Trump's announcement, she began tonight's edition of "The Kelly File," her show on Fox News, with the breaking news.

"This controversy dates back to Aug. 6 and the very first Republican debate co-moderated by yours truly," Kelly said during her show.

She then played a video about the start of the controversy and explained Trump's announcement that he will not show up for the upcoming debate.

Fox News revealed the names of the other candidates invited to attend the undercard and primary debates earlier today.

Businessman Donald Trump, Texas Senator Ted Cruz, Florida Senator Marco Rubio, retired neurosurgeon Ben Carson, former Florida Governor Jeb Bush, New Jersey Governor Chris Christie, Ohio Governor John Kasich and Kentucky Senator Rand Paul will headline the prime-time debate at 9 p.m. 

Former CEO Carly Fiorina, former Arkansas Governor Mike Huckabee, former Pennsylvania Senator Rick Santorum and former Virginia Governor Jim Gilmore will headline the undercard debate at 7 p.m.