Cuo-no More

Andrew Cuomo appears ready to withdraw from the mayoral race following a surprising defeat to socialist candidate Zoran Mamdani, as sources have informed. There’s speculation that Cuomo’s financial backers and supporters might turn their attention toward Eric Adams.

Insiders close to Cuomo’s team communicate that it’s unlikely he will seek an independent candidacy for the general election. They point out that there doesn’t seem to be a viable path forward for him. “It’s understood he’s not running. Everything suggests he’s not interested, and even if he were, the funding just isn’t there,” remarked a union leader familiar with the situation.

Supporters of Cuomo, feeling disheartened, have started shifting their endorsements towards Adams and other independent candidates after what they considered a disappointing primary showing against the left-leaning Mamdani.

Nevertheless, Cuomo indicated that he plans to hold off on making a final decision until he reviews the complete results of the Ranked Choice Voting Contest.

“I’m looking over the numbers and trying to gauge what the general election landscape will look like,” he said. “This is a step-by-step process, and I haven’t even received all the data since last night.”

This unexpected loss prompted discussions among business and union leaders about backing a Democratic candidate who may not have the necessary experience or support to rival Adams effectively.

One business figure expressed doubts about affluent supporters rallying behind Mamdani, citing concerns about his plans to impose taxes on businesses and billionaires. Still, whether they will get behind Adams remains an open question, especially if his support continues to falter as the general election approaches. “If Eric Adams’ performance doesn’t improve, we might have to reconsider our options,” the insider cautioned.

Two real estate sources expressed uncertainty about Adams’ viability as a candidate. They mentioned that meetings among business leaders are likely to occur in the coming days to discuss these concerns.

“You can’t create something from nothing,” one insider stressed.

Billionaire hedge fund manager Bill Ackman, who backed Cuomo, is now leaning toward supporting Adams, hoping that others will clarify their positions to streamline the race against Mamdani.

Numerous business leaders conveyed to columnist Charles Gasparino that Adams might be their best option following Cuomo’s primary defeat, even though he has a tarnished image post-campaign controversies.

“He’s been through a lot, but I think Adams might be our best chance,” commented a respected figure in the urban business community regarding Cuomo’s situation.

However, a seasoned business insider mentioned that another commercial leader is still hesitant to align with Mamdani, favoring a wait-and-see approach. “I think he deserves a shot. Jumping to conclusions could harm the business community right now,” the source added.

Some Democratic sources suggested that unions might start backing both Adams and Mamdani, but a bid by Cuomo as an independent doesn’t seem likely.

Another insider predicted that Mamdani would gain support from labor groups that previously backed Cuomo.

Regardless of whether Adams or Mamdani comes out on top, one thing seems certain: Cuomo’s chances of a comeback are fading.

Compared to Mamdani’s dynamic campaign, Cuomo is perceived as having largely wasted a significant amount of funding—about $25 million—without generating much enthusiasm among voters.

His seven-point loss to Mamdani even before the Ranked Choice Voting process deepens the concern about a potential independent run, should he face defeat.

“Cuomo is facing the consequences of his actions,” highlighted Ken Friedman, a Democratic political strategist.

Another Democratic source stated there’s no room for a “loser” to challenge the “winner.” Whether Cuomo decides to remain in the race could significantly influence the November election, which is shaping up to be highly competitive for New York City.

Mamdani is set to face off against Adams and independent Republican candidate Curtis Sliwa.

The city’s Democratic elite have already begun consolidating their support behind Mamdani, despite his outsider status in progressive circles.

New York State Rep. Jerry Nadler, who once backed former City Secretary Scott Stringer in the primaries, has since thrown his support behind Mamdani, as reported by The New York Times.

Leading officials in New York’s Democratic hierarchy, including Governor Kathy Hochul and Senate Minority Leader Chuck Schumer, have congratulated Mamdani but haven’t explicitly backed him for the general election yet.

The floodgates of establishment support appear to have swung toward Mamdani, with Brooklyn Democratic leader Rodneyse Bichotte Hermelyn urging unity for the future of the city and the party. “Mamdani has shown he can represent all Democrats across the boroughs, which was evident in his decisive victory,” she wrote.

“Let’s unite for a brighter future for our city.”