B.C. New Democrat Harry Lali says he can't afford to run in his party's leadership race and is dropping out, leaving five in the running for leader of the Opposition.

His heart is there, but the funds are not, Lali said Thursday.

The Merritt-area MLA said it would take at least $215,000 to mount a credible leadership run because under New Democrat rules, each candidate must pay $15,000 to enter the race and contribute half of the funds they raise to the party.

Lali's departure leaves MLAs Adrian Dix, Mike Farnworth, John Horgan and Nicholas Simons vying to replace former leader Carole James, along with pot activist Dana Larsen.

James stepped down in December following a revolt by caucus dissidents opposed to her leadership, including Lali.

The NDP leadership vote set for April 17.