By Chris White

Former News York City Mayor Michael Bloomberg is preparing to file for a Democratic presidential primary in Alabama, The New York Times reported Thursday, citing people familiar with the situation.

The billionaire philanthropist dispatched staffers to Alabama to gather signatures to qualify for the primary in the state, which has a Friday deadline for entrance into the race, the report noted. Bloomberg could pose a serious problem for Biden, a moderate struggling to raise cash.

Bloomberg’s decision comes as the former mayor has grown increasingly concerned about the current Democratic presidential field, according to Howard Wolfson, a close adviser to Bloomberg.

“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,” Wolfson told reporters Tuesday.

He added: “If Mike runs he would offer a new choice to Democrats built on a unique record running America’s biggest city, building a business from scratch and taking on some of America’s toughest challenges as a high-impact philanthropist.”

Bloomberg served as mayor of New York City from 2002-2014, first as a Republican and then as an Independent.