Developer Rick Caruso has said according to multiple reports that he will decide whether to challenge Los Angeles Mayor Antonio Villaraigosa's reelection bid this week.

The filing deadline for the race is Nov. 8. Caruso, a Republican, could self-finance his candidacy -- a major advantage with the primary election scheduled in March, less than five months away.

Caruso's decision -- whatever he decides -- could have a trickle-down effect on the 2010 gubernatorial race. Villaraigosa is considered a potential Democratic candidate for governor, but the timing -- running for reelection only the year before the governor's race primary -- could be tricky.

If Caruso runs for mayor and forces a runoff against Villaraigosa, who has already raised $2.3 million for his reelection bid, then any Villaraigosa reelection -- if he were to be reelected -- would be pushed off until May voting. The results would not certified until mid-June.

With California's donation limits, other Democratic candidates -- such as San Francisco Mayor Gavin Newsom and Lt. Gov John Garamendi -- have opened accounts to raise money for a race that will cost tens of millions of dollars.

A competitive campaign Villaraigosa would drain away the resources Villaraigosa has already raised and put off his chance to declare and start fundraising for a statewide bid for months. Political strategists say it would be unseemly for Villaraigosa to say he's running for governor before he is even sworn into his second term as mayor. Of course, Villaraigosa hasn't said he wants back in the Capitol, saying he likes his job as mayor just fine.

Lastly, one donation of note. Over the weekend, Caruso gave $12,000 to Attorney General Jerry Brown, who himself is mulling a 2010 run for governor.