Former Gov. David Beasley took a step closer to entering the Republican U.S. Senate race Friday by announcing plans to make a statement in front of the media Wednesday.

Beasley declined to confirm he's formally running, only saying he'll address "where I am in the decision-making process."

Political watchers said it likely means he's in.

"I think a lot of it is simply spin to get media coverage," said Francis Marion University political scientist Neal Thigpen, who follows Republican politics in the state. "He's doing whatever he can to show he's in demand."

Beasley said Friday he's still in the process of closing several issues with his family, including how "to be a good father and a good senator at the same time."

Another consideration is money. Beasley currently works for Merrill Lynch where he helps market municipal bonds in about 35 states.

"If he decides to make this race, he'll be walking away from $900,000 a year," said Columbia political consultant Richard Quinn, who is supporting Beasley.

Beasley also works at his family's Carolina Bank and Trust in Darlington.

Views differ on whether Beasley's foot-dragging hurts or helps his chances. The four other Republicans running to succeed retiring Democrat Fritz Hollings have been traveling the state for months raising money and collecting endorsements.

But Beasley supporters like Quinn say it won't be hard to play catch-up primarily because word leaked out in the fall he was interested.

Other Republicans have shown a dissatisfaction with the current candidates, and some leading names in GOP circles, including the family of former Gov. Carroll A. Campbell Jr., recently decided to withhold endorsements until the field improves.

The four announced GOP candidates include former Attorney General Charlie Condon, U.S. Rep. Jim DeMint of Greenville, Myrtle Beach Mayor Mark McBride, and Charleston real estate developer Thomas Ravenel. The Republican primary is in June.

Beasley's announcement will be made Wednesday in Columbia, Quinn said. That's the same date and place where the S.C. Business and Industry Political Education Committee is holding a debate among the six currently declared candidates. The Democrats include S.C. Education Superintendent Inez Tenenbaum and Camden native Marcus Belk.

Thigpen said the gossip around Florence, home to FMU and next door to Beasley's Darlington County base, is that Beasley is "99.9 percent" a candidate.

"He's running," Thigpen said. "I may end up with egg on my face, but I don't think so."