New fundraising reports show that two weeks before the primary, gubernatorial candidate Scott Honour is leading the Republican pack with more than $500,000 cash on hand — as much as his three rivals combined.
Honour's finances have been aided by his willingness to pour part of his personal fortune into the race. The investment banker and first-time candidate has lent his campaign $900,000 in addition to raising that much from donors.
In a memo to supporters Tuesday, Honour campaign consultant Pat Shortridge bragged that the final pre-primary reports "show one thing unmistakably: Scott Honour is the only candidate with the money, message, and campaign infrastructure to defeat Mark Dayton. Honour dominates his Republican opponents and is very competitive with the governor."
The heated four-way race to become the Republican nominee has stretched on for a year now, draining the candidates' resources and causing them to spend money nearly as quickly as they can bring it in.
Hennepin County Commissioner Jeff Johnson, Rep. Kurt Zellers and former Rep. Marty Seifert lack the personal wealth to invest in their campaigns and have seen the contested primary cause some would-be donors to hold back.
"We thought that people would be raising a lot more money, and if you look at all four of us, other than Honour's contribution, people are sitting on their money," Johnson said.
Sizing up the DFL
Meanwhile, DFL Gov. Mark Dayton is waiting with about $850,000 on hand to aim at whoever does come through. With no DFL opponent, Dayton has spent nearly $1 million setting up his re-election campaign, and the new figures indicate that the GOP nominee will have major fundraising work to do in attempting to unseat a vulnerable but still favored incumbent.
DFLers also have more party cash on their side than Republicans, but outside interest groups, which have become increasingly key factors in Minnesota races, help even the cash score. Those outside groups, which had been slowly raising cash in preparation for the 2014 elections, began piling on money in earnest this summer. Since June 1, the largest independent spending groups raised more than $2.6 million.