New reports are indicating that 2020 Democratic presidential candidate Michael Bloomberg, the former mayor of New York City, is considering making failed 2016 presidential candidate Hillary Clinton his vice presidential pick.

An unnamed source within Bloomberg’s campaign reportedly told The Drudge Report that they were considering Clinton after polls they conducted internally found that a Bloomberg-Clinton ticket would be a “formidable force.” Drudge Report added that Bloomberg is even considering changing his residence from New York to a home he owns in Colorado or Florida, “since the electoral college makes it hard for a POTUS and VPOTUS from the same state.”

“Under the Twelfth Amendment to the US Constitution, which provides the procedure for electing the president and vice-president, it states that the two people could not both inhabit the same state as the elector,” Daily Mail reported.

The Bloomberg campaign quickly spoke out to deny the report that he was already considering Clinton, however.

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“We are focused on the primary and the debate, not VP speculation,” said Bloomberg communication director Jason Schechter.

Earlier this month, Clinton was asked by Ellen DeGeneres if she would consider running alongside one of the Democratic presidential candidates as a Vice President, and she stopped just short of saying she would.

“I never say never because I do believe in serving my country, but it’s not going to happen,” Clinton replied.

Last month, Donald Trump claimed that Clinton had promised Bloomberg the position of Secretary of State if she had won the 2016 election.

“He had a deal with Hillary Clinton that he was going to become secretary of State. It was very simple. People knew that,” Trump said, adding that she never actually intended to follow through with this deal.

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“Wasn’t going to happen. It was going to go to Terry McAuliffe,” Trump said, referring to the former Virginia governor who is a close friend of the Clintons. “I mean, so they were playing with Michael. And – it’s too bad, but he’s spending a fortune.”

Clinton and Bloomberg are cut from the same cloth as members of the New York liberal elite, so it would come as no surprise if they decide to run together against Trump. Given how much Bloomberg is struggling in the race so far, however, it would be something of a surprise if he even gets far enough to name a running mate.