Canadian businessman Kevin O'Leary, star of ABC show "Shark Tank," is expected to run for leader of Canada's Conservative Party on Wednesday, according to multiple reports Tuesday evening.

O'Leary, who calls himself "Mr. Wonderful" despite being known for his shrewd negotiating style, skipped a debate in Quebec City on Tuesday night because it was set to take place in French and he only speaks English.

Last week, O'Leary said he was launching a campaign exploratory committee to see if there was a "clear path to victory" to replace Stephen Harper as permanent leader.

"Your many fans are eager to support you and will join the party to do so," Mike Coates, committee chairman, wrote in a letter to O'Leary.

O'Leary has a similar background to President-elect Trump in that they are both political outsiders who have spent decades building multibillion-dollar companies and became reality TV stars. Both are also known for their outspoken personalities.

The Canadian businessman would have to file his candidacy papers and put down his deposit to run by Feb. 24. The election would take place May 27 and include more than a dozen other contenders.