B.C. MLA John Horgan is set to be acclaimed the next leader of the NDP opposition, after the only other candidate in the race MLA Mike Farnworth confirmed rumours he was bowing out.

Farnworth made the announcement on Tuesday afternoon in Victoria, joined by Horgan and the entire NDP caucus in a show of support for their incoming leader.

Farnworth, who trailed well behind Horgan in the race, quipped he might consider a position managing the Vancouver Canucks — a reference to the team's announcement just minutes before that G.M. Mike Gillis has been fired.

The party is currently led by MLA Adrian Dix, who said he was stepping down following his crushing defeat by Liberal Christy Clark in the May 2013 provincial election.

Juan de Fuca MLA John Horgan is the only candidate left in the B.C. NDP leadership race. (CBC)

Just last fall Horgan had said he would not run for the party leadership, in order to open the door for newer blood to step forward and lead the party.

But when only Farnworth entered the race, Horgan announced last month that he had been persuaded to run by those in the party and officially entered the race.

The party had scheduled a leadership convention for the fall, but it is now expected Horgan will be acclaimed as leader.

The deadline for nominations for the party's leadership position is May 1.