Reports: RFK Jr. to exit presidential race this week, possibly will endorse Donald Trump

Aug. 21 (UPI) -- Current Independent presidential candidate Robert F. Kennedy Jr. will reportedly drop out of the race for president this week and possibly could endorse the Republican nominee, according to several news sources.

Kennedy is slated to hold a campaign event on Friday in Phoenix, the same day former President Donald Trump will hold his own rally at the Desert Diamond Arena in Glendale, Ariz., just outside of Phoenix.

According to a brief statement , Kennedy's remarks will center on the "present historical moment and his path forward."

Rumors had been circulating for days that Kennedy may "join forces" with the Trump team.

Kennedy, according to ABC News sources, is leaning in the direction of endorsing Trump. However, a different source expressed caution that a decision is not yet final and subject to change, with another saying Kennedy's desire, in part, is to reverse political momentum fueled by the ongoing Democratic National Convention in Chicago.

"As always, I am willing to talk with leaders of any political party to further the goals I have served for 40 years in my career and in this campaign," Kennedy posted Tuesday on X

On Tuesday, Kennedy's running mate Nicole Shanahan, of California, confirmed during an interview that their options are actively being weighed.

"There's two options that we're looking at and one is staying in, forming that new party, but we run the risk of a Kamala Harris and Walz presidency because we draw votes from Trump," Shanahan told the Impact Theory podcast .

"Or we walk away right now and join forces with Donald Trump and we explain to our base why we're making this decision," she added. "Not an easy decision."

Initially, Kennedy launched his long-shot bid for the White House to challenge President Joe Biden for the Democrat's nomination despite denouncements by several in the Kennedy clan, and a family endorsement for Biden before former President John F. Kennedy 's nephew then bucked long-standing family tradition by announcing his departure from the Democratic Party to run as an independent candidate.

The reports arrived the day before Vice President Kamala Harris is set to accept the Democratic presidential nomination on Thursday in Chicago.

But extra fuel was added to the speculation Wednesday by Trump's vice presidential pick, Sen. JD Vance of Ohio, who told NBC that "a lot" of communication has taken place between Trump's and Kennedy's campaign, who Vance says has not dropped out "yet."

"Look, our argument to RFK, and I'll make it right now, because, of course, he hasn't dropped out yet, is, look: If you want a Democratic Party that protected American workers and stood for strong borders, maybe disagreed with Republicans on things like tax policy, that party doesn't exist anymore," Vance said.

And on Tuesday the day before Vance's interview, Trump told CNN that he would be open to Kennedy joining his administration if elected. Asked if he'd consider putting him in the administration if Kennedy backed him and he won, Trump said, "I probably would. He added, "I like him a lot. I respect him a lot."

The struggling Kennedy organization has, in addition, faced financial woes. According to recent finance reports, Kennedy's campaign closed July more than $3 million in debt. It also shows that Shanahan, a multi-millionaire who many say was picked largely because of her wealth and ability to help finance the campaign, received a $1 million refund last month.

"I did not put tens of millions of dollars to be a spoiler candidate," she said Tuesday during the podcast. "I put in tens of millions of dollars to win, to fix this country, to do the right thing."

Moreover, the Kennedy/Shanahan ticket has in recent months faced a series of challenges for ballot access in all 50 state not unlike other third-party candidates, sinking poll numbers and no recent public events for the campaign on top of it all.

He recently had been disqualified from the New York ballot after Judge Christina Ryba ruled that Kennedy's listed New York home was not a legitimate place of residence, calling it a "sham" address.