As per Politico:
On Thursday afternoon, Kentucky GOP Secretary of State Trey Grayson announced that he would form an exploratory committee to run for Bunning’s seat — a move that Kentucky GOP operatives say is a precursor to Bunning's retirement. Grayson's entry will come as a relief to Kentucky Republicans and Senate GOP leaders, who may now have reason to believe their party could hold on to this seat.
If true, this would pose a setback to our chances of winning the seat, as Bunning is fare more beatable than Trey Grayson. While we have two great candidates in Jack Conway and LG Dan Mongiardo, we would have had our best chances against Bunning.
More from Politico:
In a statement, Grayson said he doesn’t plan on running against Bunning and is merely making preparations to run in case Bunning does not run for a third term.
"I have formed an exploratory committee to allow me to formally raise and spend funds as I seek support for a bid for U.S. Senate," Grayson said in a statement.
"I have no plans to run against Sen. Bunning. This exploratory committee will allow me to travel the commonwealth, meet with potential supporters and lay the foundation for a campaign."
Bunning refused comment. As we all know, national GOPers were eager to get the loose-lipped and seemingly senile Bunning to leave his seat. Heretofore, Bunning has made it clear that he intended to run again, despite poor fundraising and no institutional support. He may still run, but it's looking less likely today than it was yesterday.