Former Mayor Michael Bloomberg is moving closer to a potential run for President.
Sources confirm to NY1 that Bloomberg is seriously considering an independent run for the White House.
As first reported in the New York Times, Bloomberg’s advisers are looking into what it would take to actually mount a campaign.
No decisions have been made but the former Mayor would likely have to enter the race by mid-March in order to satisfy ballot requirements.
The Iowa Caucuses, the first nominating contest of the race, will be held on February 1.
The political independent would throw a new dynamic into an already wildly unpredictable race that has upended most predictions.
Native New Yorkers Donald Trump and Bernie Sanders are defying expectations, while former New York Senator and U.S. Secretary of State Hillary Clinton has struggled to maintain her status as a frontrunner.
Bloomberg served three terms as Mayor. He was originally elected as a Republican but changed his party designation to Independent.
Representatives for Bloomberg declined to comment on the matter.