Two billionaire businessmen running for president will battle it out for political supremacy during the Super Bowl through pricey TV ads.
President Donald Trump's reelection campaign is investing $10 million in a spot that will air during the big game on Feb. 2, an aide to the president's political operation confirmed to CNBC.
While it's unclear whether Trump's ad will be for a full 60-seconds or two 30-second spots combined, word that the president is moving in with an ad comes the same day as Bloomberg's campaign announced its TV buy.
Trump's aide said that they were in discussions with Fox, the network broadcasting the Super Bowl, in the fall and reserved the airtime in December. The campaign paid for the ad space last week.
Bloomberg has spent more than $140 million on TV ads, with some taking direct aim at Trump himself. Trump's ads have largely been focused on criticizing Democrats for their impeachment inquiry while touting his accomplishments in office.
On Wednesday, after this was story was first published, ad tracking firm Advertising Analytics told CNBC that Bloomberg had invested another $22 million in TV ads, including his $11 million Super Bowl spot. The other ads are set to air on Thursday and Friday in markets across the country. His $22 million investment brings his TV spending to well over $160 million.
Still, Trump hasn't hesitated to demean Bloomberg with a nickname, "Little Michael" and has previously said he would fail in running in the Democratic primary.
Trump and Bloomberg will be going to head to head with their ads during an event that sometimes garners 100 million viewers.
A spokesman for Bloomberg did not respond to a request for comment for this story.