Former U.S. Sen. Mark Begich will file to run for Alaska governor on Friday, multiple sources close to the Democrat have confirmed.

After months of speculation that have culminated in a fever pitch of rumors and gossip, our sources say the one-term Democratic senator will file for office on Friday.

The announcement likely sets up a three-way race between Begich, incumbent independent Gov. Bill Walker and the winner of the Republican primary (the front-runner is currently considered to be former state Sen. Mike Dunleavy, but former Republican Lt. Gov. Mead Treadwell has also been rumored to be considering a run). Currently, there are no other Democrats filed to run in the gubernatorial primary.

Earlier this year, Walker had announced his intention to run in the Alaska Democratic Party under a recent Alaska Supreme Court ruling that allowed parties to open their primaries to independent candidates, but announced that if Begich entered the race that he would instead pursue an independent path to the general election via nominating petition

Begich had been openly exploring a potential run for governor since last year, telling his supporters to “keep your powder dry” as he explored the potential run.

One source said Begich called Walker directly to inform him of his decision.

This story will be updated.