Republican Eric Hovde to launch Wisconsin Senate campaign against Tammy Baldwin next week

Republican businessman Eric Hovde is planning to enter the U.S. Senate race next week to challenge Democratic Sen. Tammy Baldwin, D-Wis., a contest that could help determine which party controls the chamber.

Ben Voelkel, an advisor to the Hovde campaign, confirmed planned launch to NBC News.

Hovde’s imminent entrance into the race in battleground Wisconsin ends months of speculation over who would challenge Baldwin, a strong and well-funded incumbent. 

In recent months, two other Wisconsin Republicans — Reps. Mike Gallagher and Tom Tiffany — passed on challenging Baldwin as she seeks a third term. Another GOP businessman in the state, Scott Mayer, has declined to rule out entering the race.

Hovde’s business empire includes a Madison-based real estate company as well as numerous banking companies. 

He ran unsuccessfully for U.S. Senate in Wisconsin 2012, losing the Republican primary to former Gov. Tommy Thompson, who went on to lose the general election to Baldwin.

Since that race, Hovde has lived on and off in California — a fact that Democrats have looked to emphasize during the several months the businessman has been considering whether to launch a campaign.

“Mitch McConnell can try to bring a mega-millionaire California bank owner to Wisconsin to buy this Senate seat, but voters in this state know who will really fight for them,” Baldwin campaign spokesperson Andrew Mamo said in a statement. “We look forward to comparing Eric Hovde, a man who was named one of Orange County’s most influential people three years in a row, to Tammy Baldwin, a public servant with a proven track record of standing up to the wealthy and well connected on behalf of middle-class Wisconsin families.”

The nonpartisan Cook Political Report has rated the Wisconsin Senate race “Lean Democratic.”

Democrats face an uphill battle in holding on to their Senate majority this election cycle. The party must defend 23 seats in November — which includes two seats held by independent who caucus with Democrats — while Republicans must defend only 11. 

When he formally launches his campaign, Hovde is expected to have the support of the National Republican Senatorial Committee, the Senate GOP’s official campaign arm. NRSC Chairman Steve Daines said in December, amid speculation that Hovde would soon enter the race, that the group would support his bid.

A spokesperson for the NRSC declined to comment.

Meanwhile, Mayer has ​hired campaign advisors in recent weeks, but has repeatedly declined to say whether he’ll enter the race. 

David Clarke, a former Milwaukee County Sheriff and an ally of Donald Trump, is also considering a run.