Former New York City Mayor Michael Bloomberg is expected to file paperwork this week designating himself as a candidate in Alabama’s Democratic presidential primary, according to the Associated Press.

Bloomberg, a billionaire businessman, has been reportedly mulling over a potential White House run for weeks but has not made his final decision.

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His move to send staffers to Alabama to gather the signatures needed to qualify for the primary is the first sign that he is seriously considering entering the Democratic fray.

Alabama is not an early voting state, but it has a deadline of Friday for candidates to officially enter the presidential race.

Bloomberg announced earlier this year that he would not seek the Democratic nomination.

But in a statement obtained by Fox News on Thursday, his political adviser Howard Wolfson says Bloomberg is worried that the current crop of Democratic presidential candidates is “not well positioned” to defeat President Donald Trump.

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“In 2018 [Bloomberg] spent more than $100 million to help elect Democrats to ensure that Congress began to hold the president accountable,” Wolfson said.

“And this year he helped Democrats win control of both houses of the Virginia legislature.”

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He added, “We now need to finish the job and ensure that Trump is defeated — but Mike is increasingly concerned that the current field of candidates is not well positioned to do that.”

If Bloomberg does enter the presidential race, he would be the second billionaire vying for the Democratic nomination.

Earlier this year, hedge fund manager Tom Steyer entered the race after months of pushing an effort to impeach Trump.

A recent Fox News poll found that Bloomberg’s chances for winning the White House are not promising, with 32 percent of respondents saying they would never vote for him, compared to just eight percent who would definitely cast a ballot for the billionaire businessman.

The Associated Press contributed to this Fox News report, which is used by permission.

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