Senate Minority Leader Chuck Schumer (D-NY) is reportedly “pessimistic” about Georgia Senate Democrat candidates Jon Ossoff and Raphael Warnock’s chances of defeating Sens. Kelly Loeffler (R-GA) and David Perdue (R-GA) in January, according to a report released Monday.

A report from NBC News stated that after outside Democrat groups and wealthy donors spent significant sums in down-ballot races resulting in dismal results during the 2020 elections, Schumer is no longer meeting with donors.

Schumer is reportedly “pessimistic” about Warnock and Ossoff’s chances of winning during the pivotal January runoffs, which could decide if Democrats take control of the Senate majority. If both Loeffler and Perdue lose in January, Sen. Kamala Harris (D-CA), the vice president-elect, becomes the Senate’s tiebreaking vote.

Justin Goodman, a spokesperson for Schumer, denied the NBC News report, saying, “This is absolutely not true and this anonymous ‘source’ has no idea what they’re talking about, and it’s really sad NBC published it. Schumer has diligently made calls and fundraised for both Georgia candidates and is optimistic about their chances in January.”

Schumer’s reported comments follow as Warnock campaign manager Jerid Kurtz and Ossoff campaign manager Ellen Foster wrote in a memo NBC News obtained that they are “sounding the alarm” about their ability to keep up with Republican spending nearly one week away from the Georgia runoff elections.

“To win this election in 8 days, we need to continue our historic efforts to turn out every single voter — but we won’t be able to do that if our fundraising revenue continues to fall,” the Warnock and Ossoff campaign managers wrote in the memo.

The Ossoff and Warnock memo arises despite the two campaigns raising more than $100 million during the latest fundraising period. Both campaigns shattered fundraising records for U.S. Senate elections in their bids to try to defeat Loeffler and Perdue.

The Warnock and Ossoff memo also noted that Republican groups could focus on direct voter contact while they have to focus on advertising.

“Our Republican counterparts don’t have to spend as much of their precious resources on TV and can invest in the area that is most important at this stage: direct voter contact,” the memo states.

Sean Moran is a congressional reporter for Breitbart News. Follow him on Twitter @SeanMoran3.