New York Mayor Eric Adams' fundraising has stopped following his federal indictment, threatening his access to vital public matching funds for his 2025 reelection campaign. Despite a significant financial lead over challengers, his legal troubles cast uncertainty over his political future, Politico reported.
Adams, known for his impressive fundraising ability, has seen a notable drop in contributions since his recent federal indictment. In the past 2 1/2 weeks, Adams' campaign has received just a $250 donation, marking a dramatic slowdown for the mayor.
His latest filing with the New York City Campaign Finance Board, covering the past three months, shows that he raised $212,416, a significant dip from his usual fundraising pace.
This drop contrasts sharply with the fundraising surge experienced by former President Donald Trump, who raised over $15 million following his conviction. Trump has aggressively sought donations by leveraging his legal battles, a strategy that Adams has not employed.
Adams' campaign lacks a dedicated website for contributions, and his team does not engage in standard email or text fundraising solicitations. Instead, his efforts have been focused on in-person events, such as a recent fundraiser hosted by his brother at a Chinese restaurant in Queens and a birthday party in Manhattan.
Adams is also raising money for his legal defense fund, though those donations have similarly slowed. A quarterly report on that fund is expected soon, but insiders familiar with the situation have noted a pause in solicitations after the indictment.
Despite the recent decline in contributions, Adams' campaign remains financially robust. His team reported raising $4.14 million for his reelection and still holds $3.11 million in cash. This gives him a substantial advantage over his declared opponents, including City Comptroller Brad Lander and former Comptroller Scott Stringer, who have raised $967,381 and $591,116, respectively.
However, Adams' legal troubles could jeopardize the public matching funds his campaign anticipates. The Campaign Finance Board has not yet decided whether to grant Adams the $4.35 million his team says it has qualified for.
The mayor is accused of running an illegal straw donor scheme, and board officials are expected to factor in the indictment when reviewing his eligibility for public funds. Even if Adams does qualify, the board has already flagged a third of the matching fund claims as "invalid."
Adams has refunded nearly $83,000 in donations during this period, a higher-than-usual amount that raises further questions about the status of his fundraising operation. In contrast, Lander is on track to receive as much as $3.49 million in public funds by December, while Stringer expects $2.47 million.
Adams' financial lead could be threatened if his opponents receive matching funds. Lander's campaign is optimistic about the situation.
"With Brad's strong fundraising and major questions swirling around Eric Adams' ability to qualify for matching funds due to his federal indictment, Brad Lander has raised the most money — and has the most to spend — of any candidate for mayor," said Lander senior adviser Rebecca Rodriguez.