With Newtmentum grounding to a halt, the candidate looks like he got some good news today: Politico is reporting that billionaire Sheldon Adelson will be donating $20 million to a pro-Gingrich Super PAC to bolster his efforts in the face of Romney's attack ads. Adelson's spokesperson officially denied the news to the outlet, but Maggie Haberman and Kenneth Vogel's sources say that he'll be writing a check shortly, with the recently-created Winning Our Future PAC in the lead to get the money.
Sources with direct knowledge of the $20 million figure, who requested anonymity, told POLITICO that Adelson planned to cut a check to one of the PACs as soon as this week.
A major contribution from Adelson would enable the recipient group to start airing ads in Iowa to counter a week-long anti-Gingrich on-air assault that is already taking a toll on his frontrunner status in the Hawkeye State, according to private and public polling.
The financial reinforcements will add to--but not technically be associated with--a campaign The New York Times deemed last week as one of the "weakest fund-raisers in the field." In other words: there'll more money to stop the bleeding from his dropping poll numbers, convince Beltway-types who don't believe in him, and counter Romney's similarly-named Restore Our Future Super PAC, which has put out some of the hardest hitting spots against Gingrich recently.
This article is from the archive of our partner The Wire.