Senate Minority Leader Mitch McConnellAddison (Mitch) Mitchell McConnellThe Hill's Campaign Report: Trump, Biden spar over coronavirus response Senator Tom Coburn's government oversight legacy Schumer praises choice of Defense inspector general to oversee corporate lending fund MORE (R-Ky.) will face a primary challenger from the right in Matt Bevin, a local businessman and Tea Party candidate who plans to announce his run for Senate this week.

Bevin, who has been exploring the race since February, is reportedly already buying airtime and has met with multiple conservative groups about his run. He'll launch a 3-day, 8-stop tour of the state after he formally announces his campaign on Wednesday.

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Bevin is a partner at a Kentucky investment firm and the owner of Bevin Brothers Manufacturing, a Connecticut bell-making company founded 160 years ago. He previously worked as CEO of Integrity Asset Management, an investment management firm with offices in Kentucky.

His personal wealth would be an advantage running against McConnell, who has nearly $10 million cash on hand for the race.

McConnell has long been considered vulnerable to a primary challenge.

The Kentucky senator has worked, in recent years, to shore up support on his right flank and hired Jesse Benton, the former campaign manager for Sen. Rand PaulRandal (Rand) Howard PaulHouse chairwoman diagnosed with 'presumed' coronavirus infection Capitol officials extend suspension of tourist access until May Second Capitol Police officer tests positive for coronavirus MORE (R-Ky.) with ties to the Tea Party in Kentucky, to his team.

Democrats believe McConnell to be vulnerable heading into 2014, citing polling that shows him unpopular in his state. 

They also got their preferred remaining candidate in Kentucky Secretary of State Alison Lundergan Grimes, after a handful of other Democrats passed on the race.