Former House Speaker Newt Gingrich will suspend his campaign for the Republican presidential nomination next week, according to multiple reports.

Senior Gingrich aides told Fox News on Wednesday that the candidate would either suspend or end his campaign on Tuesday and "more than likely" endorse presumptive Republican nominee Mitt Romney.

At a Wednesday morning campaign event in North Carolina, the Georgia Republican conceded that conservatives needed to get behind Romney after he made a clean sweep in five primaries on Tuesday.

"I think you have to at some point be honest with what's happening in the real world, as opposed to what you'd like to have happened," Gingrich told supporters, according to CBS News. "I think obviously that I would be a better candidate, but the objective fact is the voters didn't think that. .... And I also think it's very, very important that we be unified."

The former House Speaker said he would continue to campaign "as a citizen," but did not explain what that meant.

Taxpayers are currently funding Secret Service protection for Gingrich to the tune of about $44,000 a day. His campaign is reportedly about $4.3 million in debt.