Jeremy Corbyn is the favourite to become the next Mayor of London if Sadiq Khan pulls out of the race.
Recent reports have cast doubt over whether Mr Khan will stand in the election in 2024, opening the door for Mr Corbyn to win as an independent.
The former Labour leader lost the whip in 2020 and has been barred from standing for the party in the next general election, but the latest odds from bookmakers suggest he has a high chance of winning against Labour or Conservative candidates.
Mr Khan remains the favourite right now at 1/4, but Mr Corbyn is catching up as the election approaches and is currently 8/1 to enter City Hall according to Ladbrokes.
Alex Apati of Ladbrokes said: “It still looks like Sadiq Khan will win the London Mayoral election race, but Jeremy Corbyn is slowly closing the gap on the favourite, and if Khan is to pull out, the latest odds suggest the former Labour leader will get the gig.”
Likewise, Betfair suggests that Mr Khan and Mr Corbyn will lead the race to be London Mayor, with odds of 1/3 for the incumbent and 8/1 for the former Labour chief.
Last year Huff Post reported that allies of Mr Corbyn had urged him to run for London Mayor to gain a strong platform for his politics, but so far he has yet to make an announcement on his political future.
If Mr Corbyn does not stand to be Mayor of London, he could seek to run in his constituency of Islington North as an independent MP, a seat he has represented since 1983.
Sadiq Khan’s popularity has been falling in recent years with critics citing the expansion of the Ultra Low Emissions Zone (ULEZ) as a cause for his downfall.
Concerns are also growing over accommodation in London, with the Mayor coming under fire for claiming that there are around 30,000 long-term homes empty despite the ongoing housing crisis.
Mr Khan’s popularity has fallen from 31 percent in 2020 to 22 percent today according to polling from YouGov, raising doubts over whether Labour will be able to hold onto the position when the election comes.
The London mayoral election is due to be held on May 2, 2024. Mr Khan has been selected as Labour’s candidate for the race, with Zoë Garbett standing for the Greens.
The Conservatives and Lib Dems have yet to announce their candidates for the election.
