Ted Cruz is consolidating the support of his rivals as the Iowa caucuses draw near. Now a major Rand Paul supporter has switched his support, saying he believes Cruz has the best chance to win.

“Cruz has the best chance to win, and I felt like I was wasting my time trying to help the Paul campaign because he simply lacks the money, and what’s more the dynamics to win a national campaign,” said Steve Hoffman.

Hoffman is one of the three at-large National Directors of the Republican Liberty Caucus, a nationwide, grassroots organization that directs major funding and support to liberty-minded candidates.

Hoffman says the Paul campaign lacks the money and dynamics to win, the proof of which was the campaign’s failure to secure Paul a spot at the South Carolina Tea Party Coalition Convention.

“That was really the final straw for me…The annual tea party convention is one of the biggest tea party events in the nation and draws national attention. Rand was elected to the Senate, largely by support of those of us in the tea party/Liberty movement, yet he is going to be noticeably absent from the most important tea party event this year in arguably the most important primary state. Rand will be in Charleston for the debate on the 14th, why not stay around for the convention as most other candidates are doing?”

Hoffman also remarked the Cruz’s campaign has raised an awful lot of money and has amazing energy on the ground in South Carolina.

The South Carolinian RLC leader says he believes around 90% of Paul’s supporters could end up backing Cruz if Paul were to exit the race.

“There’s no doubt that the vast majority of Rand’s supporters will come over to Cruz if Rand drops out at some point. The Liberty movement is not about a personality, but about advancing conservative Constitutional values. At our recent RLC national convention Paul and Cruz were nearly tied in our straw poll, with Rand being a few points ahead. So it’s clear that within the RLC, Cruz and Paul stand out as the two acceptable candidates” said Hoffman.