They're both entrepreneurial Greenwich businessmen. They're both politically connected, though neither has held statewide elective office.

And Democrat Ned Lamont and Republican Tom Foley have something else important in common, too: They're both very wealthy and, potentially, willing to pour some of that wealth into becoming Connecticut's next governor.

Foley's announcement last week that he is seeking the GOP nomination to replace Gov. M. Jodi Rell made him the newest entrant into a growing field of contenders. They already include Lt. Gov. Michael Fedele, a fellow Republican; and Democratic former House Speaker James Amann.

Foley said after his announcement Thursday that he "probably won't" participate in Connecticut's public campaign financing program, in which candidates curtail their fund-raising in return for state grants to help bolster their campaign.

That leaves open the door for Foley, a former U.S. ambassador to Ireland, to spend and raise as much money as he wishes _ both in a potential party primary and, if he were to win that, in a general election against a Democrat.

Although Lamont hasn't officially said whether he will run for governor, he has formed an exploratory committee. He has said he would accept only small donations to "honor the spirit" of campaign finance reform, but has not said whether he supplement them with his own money.

In 2006, he shelled out $16 million to challenge Sen. Joe Lieberman, defeating the incumbent in the party primary before losing to the Democrat-turned-independent Lieberman in the general election.

"In my mind, it's going to be money that's the key factor in this race for governor," said Christopher Kukk, an associate professor of political science at Western Connecticut State University in Danbury.

"I'm a firm believer that money is the mother's milk of American politics, and I think you'll definitely see this in the very wealthy state of Connecticut," he said. "Hands down, the wealthy person has the advantage of getting their name out in many, many ways."

And the money is likely to come from outside of Connecticut, too. The Democratic Governors Association has said Connecticut will be one of its top priorities in the 2010 elections after losing New Jersey and Virginia to Republicans this year.

Many of Foley's and Lamont's declared and potential challengers have said they will follow the limits of Connecticut's public finance program, including Amann and Fedele.

The program, known as the Citizens Election Program, was established in 2005 and is funded by the state's sale of unclaimed and abandoned property. Autumn of 2008 was the first time candidates for state office could qualify and receive grants.