Lord Peter Mandelson and Lord William Hague are both in the race to become the next chancellor of the University of Oxford, it has been reported.
The post will be elected online for the first time in Oxford’s history, following Lord Chris Patten’s retirement at the age of 80, earlier this year.
It will see more than 250,000 Oxford graduates and former staff members eligible to vote in the ballot.
Both Lords Mandelson and Hague are said to be interested in filling the position.
While campaigning for the job is seen as inappropriate, both have expressed interest in the role.
Lord Mandelson, a former EU trade commissioner and Labour business secretary, is due to step down from his post at Manchester Metropolitan University in January next year, having been in the role since 2016.
While he is still to make a decision on whether to run, Lord Mandelson told the Mail: ‘I do feel passionately about universities and given I studied at Oxford it’s an important place to me.
‘Obviously I would be interested, but running for election is a fraught business as I know too well, so it’s a decision I would not make in a hurry.’
Lord Hague led the Conservative Party between 1997 to 2001 and served as foreign secretary in the coalition Government between 2010 to 2014.
Sources confirmed to the Mail Lord Hague was ‘seriously considering’ standing in the election, having been approached. He has not yet reached a decision on his candidacy.
Former prime ministers Theresa May and Boris Johnson have also reportedly been linked with the role, but Mr Johnson will reportedly not put his name forward.
And Mrs May is understood to have ruled herself out of the running, having stepped down as an MP to focus on the Global Commission on Modern Slavery.
While the largely ceremonial role is unpaid, it is seen as one of the most prestigious in British public life. The position dates back to 1224.
The holder will serve a 10-year team, presiding over ceremonies while also taking on a fundraising and advocacy role.
Lord Patten, Britain’s last governor of Hong Kong, was appointed in March 2003 and is just one of three people to hold the role since 1960 – alongside former prime minister Harold Macmillan and former Labour home secretary Roy Jenkins.
Both Lords Mandelson and Hague read philosophy, politics and economics at Oxford – Lord Mandelson at St Catherine’s College and Lord Hague at Magdalen College.
Previous elections have required people to vote in person in gowns at the university’s 17th century Sheldonian Theatre.
Professor William Whyte, a fellow of St John’s College with a special research interest in the university’s history, said: ‘What Oxford needs is someone who can articulate the interests of the university publicly and speak behind the scenes to policymakers, journalists and others.
‘There’s always been a sense in Oxford that the job of the chancellor is to have the ear of people who might help or hinder the university.’