N.Y. mayor awaits ruling to allow 3rd term

NEW YORK, Oct. 10 (UPI) -- New York Mayor Michael Bloomberg, awaiting approval to seek a third term, is busily planning an aggressive $80 million campaign, associates say.

Bloomberg, who earlier opposed a revision in the two-term limit law, said the current global economic crisis had changed his mind.

If the city council votes to make the change, Bloomberg is expected to run not as a Republican, as he did in his first two campaigns, but as an Independent, The New York Times said Friday.

At least $20 million of the expected campaign fund reportedly would be used against U.S. Rep. Anthony Weiner, D-N.Y., seen by advisers as Bloomberg's most likely opponent, the Times says.

Other potential candidates include Christine Quinn, the city council speaker, and City Comptroller William G. Thompson Jr.