Michael Bloomberg is expected to announce that he will seek a third term in office, but holding a press conference isn't the only thing the New York City mayor will have to do to get on the ballot.

Since the Mayor of New York is limited to two terms, the City Council will have to change the rules for Bloomberg to remain in office.

WNBC is reporting that Mayor Mike will hold a press conference around noon at City Hall to announce his plans for a third term.

Bloomberg is highly popular. I like him. However, the politicians who had their eye on his seat aren't too happy! He could face two challengers, a democrat and a republican, since Bloomberg has become an independent. The incumbent mayor will have plenty of money to spend, that's for sure!