Florida billionaire John Morgan offers $100,000 for naming new political party

The billionaire backer behind Florida's upcoming $15 minimum wage and the movement to legalize medical marijuana is attempting to shake up the Sunshine State's politics yet again, and it could net you $100,000.

Attorney John Morgan, who founded America's largest personal injury claims firm Morgan and Morgan, is offering the large sum of cash to anyone who can think up a good name for his new centrist political party.

The former Democratic Party mega-donor announced on Monday that he would be funding a new centrist political movement in the state, while also stating that he would not be running in this year's gubernatorial election as 'time marches on' for the now 70-year-old self-made billionaire.

But anyone hoping to snag Morgan's $100,000 prize for naming this movement will have to get creative, as the personal injury lawyer has given scant information about his new party, apart from that it will stand on issues where Floridians can 'agree on most things'.

Morgan said on Monday: “I believe that what ails us is the two-party system. Most of us agree on most things, but if you put the D up and the R up, nothing ever gets done." Adding: “I hope we in Florida can kickstart a real third party movement in the United States.”

There had been a considerable amount of momentum behind Morgan's unlikely third-party bid for the Governor's Mansion, due to the significan amount of name recognition he has gained through his succesful ballot measure campaigns to increase the minimum wage and legalize medical marijuana. His wealth wouldn't have hurt either.

With an estimated net worth of over $1.5 billion, part of his justification for not running for the top job in the state was simple, he enjoys his current lifestyle too much.

The lawyer, who lives in Maui for most of the year, added in his social media post: “I do like living in Hawaii, I do like my marijuana, and I do like spending time with my grandchildren.”

He has also laid out how his $100,000 prize will work, separately telling Politico: “I need to be careful so as to follow the law for such contests and to set strict rules. Because there can only be one winner and there may be multiple people with the same name.”

With plans to file founding documents 'in the coming days' and the deadline for entering the gubernatorial race just two months away, Morgan is in something of a race against time to get his new movement off the ground.

Adding to this pressure is the unfavorable outlook for Democratic candidates in Florida, where Republicans enjoy an almost 10 point lead in public voting intention in races up and down the ticket - a further sign of the GOP's dominance in the once purple battleground.

Yet, according to recent Emerson polling of likely voters, one in six voters in the Sunshine State are undecided heading into the November elections.

Morgan is hoping that if they, and most of the Democratic voters, backed his movement, the yet-to-be-named centrist party could galvanize voters disaffected after 10 years of Republican dominance in the state.