And they're off!
David Cameron's surprise revelation yesterday that he would not seek a third term as prime minister has fired the starting gun on the race for the next Tory leader.
The prime minister also identified three potential successors, citing "the Theresa Mays, and the George Osbornes, and the Boris Johnsons" amongst the Tory talent.
One notable omission from Cameron's comments to the BBC was Sajid Javid, the millionaire from humble beginnings who has previously been touted as the first British prime minister of Asian heritage.
Here are the runners and riders in the unofficial Tory leadership race:
Tory Leadership Race
Boris Johnson(01 of07)
Current position: Mayor of London, Candidate for Uxbridge and South RuislipRides: "Bumbling Oratory" Odds to win: 5/2 favouriteFor: Boris is rarer thing than a Sugarbush Draft Horse, he's a "popular Tory". An opinion poll last October outed him as the people's choice to replace Cameron. Part of the trio named by Cameron as his possible successors.Unfortunately, it's not up to the people...Against: Critics argue he is style over substance, and have real concerns his premiership would be characterised by gaffes and back-pedalling. (credit:PA/Composite)
Theresa May(02 of07)
Current position: Home SecretaryRides: "Beyond The Borders"Odds to win: 4/1For: Politically, May is a shrewd and successful operator who has done a credible job as home secretary, a role that has tripped up many previous politicians. The first female chair of the Conservative Party. Also part of the trio named by Cameron as his possible successors.Against: A Tory minister recently described May as "100% charmless" and the only benefit that her appointment as leader would bring would be "net migration". She would be 63 by the time of the 2020 general election - the only woman, but also the oldest of the three frontrunners. (credit:PA/Composite)
George Osborne(03 of07)
Current position: Chancellor Rides: "Red Box Makeover"Odds to win: 7/1For: Osborne has seen a turnaround in fortunes after stumbling at a few early budget hurdles. Last budget generally seen as a resounding success and management of the economy has arguably put Britain ahead of Europe in the recovery. Has had a personal makeover including his new close-cropped haircut dubbed 'The Osborne'. Also part of the trio named by Cameron as his possible successors.Against: His privileged background is well-known, and his membership of the Bullingdon Club - an Oxford dining society for the very rich, of which Cameron was also a member - particularly riles those who believe he does not have the common touch. He is considered a political heavyweight, but being a good chancellor does not necessarily translate to being a good party leader and prime minister, as recent history has shown
Sajid Javid(04 of07)
Current position: Culture SecretaryRides: "Rising Star"Odds to win: 10/1For: Javid, the son of Pakistani immigrants, is the first of the Tory MPs elected in 2010 to become a cabinet minister.Against: Close to George Osborne, he may choose to give the Chancellor a clear path at the leadership.
Philip Hammond(05 of07)
Current position: Defence SecretaryRides: "Stripped Down Defender"Odds to win: 10/1For: Erm...Against: Recently received a "slapping down" from Danny Alexander for publicly complaining about defence cuts.Also, he's possibly the most "beige" of all the prospective candidates. (credit:PA/Composite)
Liam Fox(06 of07)
Current position:Rides: "Spend Wisely"Odds to win: 33/1For: Dr Fox has become the unofficial spokesman for those Tories disaffected with the current leadership with a number of public statements criticising their direction on austerity.Against: Is it really a good move to appoint someone who was forced to resign from his job as defence minister for allowing a close friend improper access to the highest level of government affairs?Additionaly, Fox recently said: "I think there is no chance of us having a leadership election in the Conservative Party before the election, I think that would be madness." (credit:PA/Composite)
Michael Gove(07 of07)
Current position: Tory Chief WhipRides: "Baccalaureate Backtrack" Odds to win: 100/1For: Gove is highly regarded within the Tory party as charming, polite and capable.Against: He has taken a bruising both from the public and other Tories for some of his proposals in his former job as Secretary of State for Education. (credit:PA/Composite)