Ex-NYC Mayor Michael Bloomberg is thinking about running for president as an independent candidate, several outlets report.

Unnamed advisers told the New York Times that Michael Bloomberg, 73, sees a gap and has instructed staff to draw up plans.

In 2015, Michael Bloomberg commissioned a poll to see how he might perform against Republican frontrunner Donald Trump and Democratic favorite Hillary Clinton.

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Michael Bloomberg would reportedly pump $1 billion of his fortune into a campaign.

The billionaire has yet to make a statement on the issue but members of his staff have told other US media that he is indeed thinking about running, especially if Hillary Clinton is wounded by her rival Bernie Sanders.

The New York Times also reports that he has set a deadline for making a final decision in early March, when he could still enter the race in all 50 states.

The Republican and Democratic candidates face their first real test in just over a week, when Iowa becomes the first state to make its choice of nominee.