It looks like the contemplation phase is over. Wil R. Cardon, President and CEO of the Cardon Group, a real estate investment firm, has decided to make his bid for Jon Kyl’s Senate seat official.

Cardon’s primary opponent will be U.S. Rep. Jeff Flake, who has already had a strong fundraising quarter and appears to be in a strong political position for the race.

“No one will outspend me or outwork me in this campaign,” says Cardon of his campaign for U.S. Senate. This might be true but Cardon will have a difficult road to victory.

First, Cardon’s name recognition in the state is low and nonexistent nationally. Second, Cardon’s service on Jeff Flake’s Finance Committee and routine Flake campaign donations will make it difficult for Cardon to differentiate himself.

Lastly, Cardon will not be the first self-funder to test the political waters. Unfortunately for Cardon, most of these self-funded candidates fared poorly in statewide elections. In New Hampshire, Bill Binnie (R) spent a lot on the Senate race, only to fizzle out before the end of the primary. Jeff Greene (D) also spent large amounts of money in the Democratic primary in Florida only to lose Rep. Kendrick Meek (D). Linda McMahon (R) and Meg Whitman (R) made it out of the primary because of little competition, but lost in the general election despite spending unfathomable amounts of money.

Cardon suffers from a lack of political capital and strength that Jeff Flake currently enjoys.

Cardon will undoubtedly run as a “Washington outsider” but will also face opposition from Flake supporters who have always viewed Flake as “above the Washington fray.”

Although Cardon’s political climb is unlikely, the race for Arizona’s Senate seat just got a lot more interesting.