The founder of the Reform Party, Mr Ross Perot, has suffered a setback with the election of a new chairman backed by Governor Jesse ("The Body") Ventura.
At the party's national convention in Dearborn, Michigan, Mr Jack Gargan was elected chairman by defeating the outgoing vicechairwoman, Ms Pat Benjamin, who was favoured by Mr Perot. Mr Ventura and his supporters have made it clear that they do not want Mr Perot to run in next year's presidential election, when the party will be entitled to $13 million in federal funding.
Mr Perot, a billionaire businessman, won 19 per cent of the vote in the 1992 presidential election but this dropped to 8 per cent in 1996. Because he won more than 5 per cent of the vote, the Reform Party qualifies for $12.6 million in federal funding.
Mr Perot (69) refused to say whether he will run in 2000 as a third-party candidate. Some of Mr Perot's supporters are said to be disappointed that he has not raised new issues which could help him to perform well next year against his likely opponents, Governor George Bush and Vice-President Al Gore.
Mr Gargan, a wealthy retired financial consultant from Florida, said: "Mr Perot has already run twice and he's done a fantastic job better than anyone else has. But I do believe we are ready to have new people give it a whirl."
Mr Perot has refused to comment on the defeat of his favoured candidate. He addressed the convention at the weekend without mentioning Mr Ventura, the former professional wrestler who was the party's most spectacular winner in last year's election, when he was elected Governor of Minnesota against the better-known Democratic and Republican candidates.
Mr Ventura, who was prevented from attending the convention by bad weather, has said he will not be a presidential candidate in 2000 but his supporters hope that he will run in 2004. His spokesman said that "if Ross Perot runs next year and gets 5 per cent of the vote or less, that's not progress".
Various high-profile names are being mentioned as a possible Reform Party candidate in 2000. These include the New York property developer Mr Donald Trump and the consumer advocate Mr Ralph Nader.
The names of other potential presidential candidates are being bandied about by Reform Party factions with varying amounts of support. "It's much too early to decide, but it would be great if a man like Gen Colin Powell would be serious about running," Mr Gargan said.
The names that have surfaced range from strongly conservative to liberal in their leanings. They include the former senator Mr Sam Nunn and the former Republican senator and Independent Connecticut Governor, Mr Lowell Weicker, who is endorsed by Mr Perot.