Sources told CBS 11 News that Webb, who dropped out of the Democratic primary race in October, will make his intentions known during a speech the World Affairs Council this afternoon.
The group only said that the former Virginia senator will share his “5 Most Important Principles for Foreign Policy.”
Webb hinted at an independent run when he dropped out of the primary, saying he could see himself beating Republican primary front-runner Donald TrumpDonald TrumpMan sentenced to nearly four years for running scam Trump, Biden PACs Meadows says Trump's blood oxygen level was dangerously low when he had COVID-19 Trump endorses David Perdue in Georgia's governor race MORE and Democratic presidential hopeful Hillary ClintonHillary Diane Rodham ClintonRepublican Ohio Senate candidate slams JD Vance over previous Trump comments Budowsky: Why GOP donors flock to Manchin and Sinema Countering the ongoing Republican delusion MORE in a three-way race.
“If we ran an independent race that worked and got traction, I honestly could see us beating both of them,” he said at the time.
Webb also said he felt like an anachronism in an increasingly progressive party, arguing Democrats had moved away from “millions of dedicated, hard-working Americans.”
Asked at his concession speech whether he was still a Democrat, Webb said, “We will think about that.”
“Some people say I am a Republican who became a Democrat, but that I often sound like a Republican in a room full of Democrats or a Democrat in a room full of Republicans,” he added. “Actually, I take that as a compliment.”
Webb served as secretary of the Navy in the Reagan administration and has a decorated military career.
His most notable moment on the campaign trail came at the first Democratic primary debate, when he was asked about the greatest enemy he had ever made.
“I’d have to say the enemy solider that threw their grenade that wounded me,” he said. “But he’s not around right now to talk to.”