Media mogul, billionaire and former New York Mayor Michael Bloomberg s late-in-the-game presidential ambitions cannot be counted out. Bloomberg spent over $100 million during his last mayoral bid and has the financial resources to spend exponentially more on a nationwide campaign. Hes never lost a political campaign and is almost certain to be met with oodles of free media coverage if he enters the race.

But its not clear what Bloomberg, who decided against a bid earlier in the year but now appears to be preparing for one, has to offer beyond money for consultants and television stations in the early states that isnt available in another presidential candidate .

The sprawling Democratic presidential field, which topped 20 candidates at one point, has offered voters four mayors or former mayors, two self-funding businessmen, three New Yorkers, seven senior citizens and, depending on your ideological definitions, as many as 11 moderate Democrats . Though its possible voters might welcome all of those things in one convenient package especially if that package, again, is able to spend tens of millions of dollars promoting itself right now, evidence to back that up is scarce.

Howard Wolfson, a Democratic operative who has long served as a top aide to Bloomberg, laid out on Twitter his bosss rationale for considering a bid.

Democrats need to ensure that Trump is defeated but Mike is increasingly concerned that the current field of candidates is not well positioned to do that, Wolfson wrote. If Mike runs he would offer a new choice to Democrats built on a unique record running Americas biggest city, building a business from scratch and taking on some of Americas toughest challenges as a high-impact philanthropist.

Wolfson concluded: Based on his record of accomplishment, leadership and his ability to bring people together to drive change, Mike would be able to take the fight to Trump and win.