Michael Steele to announce RNC intentions on conference call tonight (UPDATED)

Update: Fox News has now revised its article to indicate that Steele will seek a second term as RNC chair. That shift comes after Tim Mark at FrumForum reported that Steele would in fact run to retain his position. Steele himself is not expected to give official word until the conference call this evening.

The speculation over Republican National Committee (RNC) Chairman Michael Steele’s future with the group will come to an end tonight. At 7:30 p.m. EST, he is scheduled to speak with members of the RNC during a conference call. Fox News’ sources indicate that Steele will announce that he will not seek a second term during the call, but the chairman has remained coy about his decision. The next RNC chair will be selected when the organization’s members meet in the middle of January.

Steele’s two years as chairman of the party been filled with both positives and negatives for his image. In terms of results, Steele has overseen two of the most successful years for the GOP; when he took the helm in early 2009 the party was in a state of crisis after Barack Obama swept Democrats to wide majorities in both chambers of Congress, but the GOP regrouped in 2010 and won historic margins in Congress for the midterm elections.

At the same time, Steele himself has been plagued by a continual series of gaffes that distracted from his other work, and the party closes 2010 with its future weighed by over $15 million in debt. Though the RNC chairman is not selected by any form of popular vote, rank and file Republicans have turned against Steele. Almost half of Republican voters would oppose Steele if he ran for the chairmanship again according to a recent poll.

A host of other candidates are already in the race no matter what Steele announces Monday night. Wisconsin Republican Party chairman Reince Priebus is projected as an early front runner. He has already wrapped up the support of Wisconsin’s GOP and is backed by influential Mississippi Gov. and former RNC Chairman Haley Barbour. Also among those running: former Michigan Republican chairman Saul Anuzis, Gentry Collins who was the RNC’s political director until he resigned last month with a scathing letter against Steele, and former RNC co-chair Ann Wagner.

Those currently running have fairly low public profiles, much like Steele before he won the chairmanship in 2009. That could come back to haunt the party, though, as these individuals’ past ties will be subjected to greater public inspection if they win the chairmanship. Anuzis, for example, has defended Young Americans for Freedom, an organization the Southern Poverty Law Center termed a hate group over its white nationalist statements.

If suspicions that Steele will not run again are confirmed, other possible candidates may be willing to enter the race. Former Minnesota Sen. Norm Coleman has been speculated about as a possible candidate earlier this year. He recently stated that he would not oppose Steele but did not deny his interest in running if the current chairman steps aside. Coleman — who helped found the conservative nonprofit American Action Network after he lost his Senate election in 2008 — would likely have the highest name recognition of any candidate if he chooses to run.

Mike Duncan, Steele’s predecessor as RNC Chair and current chairman of American Crossroads, is weighing whether to run for his old position. American Crossroads was the biggest outside player in the 2010 midterm elections, becoming a symbol for undisclosed spending after Citizens United. Duncan would be a major player if he puts his hat into the ring. The RNC chair is primarily responsible for party fundraising, so Duncan’s success leading American Crossroads would augur well for his ability to lead the RNC out of its debt problem as they seek to reclaim the White House in 2012.