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Aide: Michael Bloomberg Won't Run For Mayor Of London

NEW YORK (CBSNewYork) -- An aide for Michael Bloomberg says the former mayor will not run for mayor of London next year.

The Sunday Times of London reported that Bloomberg is mulling a 2016 bid to succeed Boris Johnson as mayor.

But former New York City Deputy Mayor Howard Wolfson told the New York Post that is not true.

"You can quote me on the record ruling it out," Wolfson said.

"He is flattered, but he loves New York City too much to leave it — and knows how tough it will be for anyone to follow Boris."

The 73-year-old billionaire would have to become a British citizen to run for office. But his ex-wife and two daughters are all British citizens. Bloomberg also has many investments across the pond.

The former three-term mayor owns a townhouse in London and last year was given an honorary knighthood by Queen Elizabeth for his "prodigious entrepreneurial and philanthropic endeavors" in the United Kingdom.

According to The Sunday Times, Bloomberg already has the support of Steven Hilton, one of Prime Minister David Cameron's top advisers.

The paper also quoted an unnamed source who said Johnson has discussed the possibility of Bloomberg serving as the Tory candidate in the race.

"Mike is an enormous friend of London," the source told The Sunday Times. "He's a great contributor to the city. He's got many supporters and admirers, of which Boris is definitely one."

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