Former New York City Mayor Michael Bloomberg confirmed for the first time publicly he is considering running for president in 2016, the Financial Times reported Monday.

The billionaire media owner told the newspaper he was “looking at all the options” when asked whether he was considering a run, while also criticizing the quality of the debates in the current presidential race. 

“I find the level of discourse and discussion distressingly banal and an outrage and an insult to the voters,” he told the Financial Times.

Bloomberg’s comments come after a report in the New York Times last month that he was considering an independent presidential campaign, vowing to spend $1 billion of his own cash after seeing an opportunity for a third-party victory.

Though Bloomberg, 73, would face long odds in winning, his entry in the race has the potential to take away votes from either party in the general election, regardless of who wins the nominations.

The New York Times reported he will commission a second poll after the New Hampshire primary on Tuesday, and will make a decision in early March. 

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Bloomberg told the Financial Times he would need to begin putting his name on ballots across the country at the beginning of March. 

“I’m listening to what candidates are saying and what the primary voters appear to be doing,” he said.