Transcript: John McCain's concession speech

Meanwhile, Senator John McCain spoke before his hometown supporters at the Arizona Biltmore, where he conceded the race for president to Obama. McCain congratulated his opponent on a "historic" victory and praising his perseverance.

Below is the full transcript of Republican John McCain's concession speech Tuesday in Phoenix.

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MCCAIN: Thank you. Thank you, my friends. Thank you for coming here on this beautiful Arizona evening.

My friends, we have — we have come to the end of a long journey. The American people have spoken, and they have spoken clearly.

A little while ago, I had the honor of calling Sen. Barack Obama to congratulate him.

(BOOING)

Please.

To congratulate him on being elected the next president of the country that we both love.

In a contest as long and difficult as this campaign has been, his success alone commands my respect for his ability and perseverance. But that he managed to do so by inspiring the hopes of so many millions of Americans who had once wrongly believed that they had little at stake or little influence in the election of an American president is something I deeply admire and commend him for achieving.