We all knew it was coming, we just didn’t know when. Newt Gingrich is reportedly poised to announce a formal bid for president sometime this week, becoming the first major GOP figure to jump in. While a spokesman says he’ll create an exploratory committee, advisers say Gingrich is ready to run. The former speaker of the House led the Republican Revolution of 1994, but quickly stumbled and resigned from Congress in 1998 and has been slowly rebuilding his brand since, but he remains controversial. Although there’s been speculation about many candidates, Gingrich would become only the second contender to formally make a bid, joining pizza-magnate Herman Cain, who isn’t considered a top-tier candidate.