The party released new rules for the leadership race on Saturday, including a large entrance fee of $90,000. During the 2006 leadership campaign, the party charged hopefuls a $50,000 entrance fee.

Also, spending by the leadership candidates will be restricted to $1.5 million each, which is far smaller than 2006's $3.4 million limit.

The party's national executive met Saturday in Ottawa to prepare for the leadership convention, which will take place from Apr. 30 to May 3.

Dion announced his intention to step down as Liberal leader after the Liberals' dismal showing in the federal election, where they won 76 seats in their worst result since 1984.

Only two candidates have so far thrown their hat into the ring: Toronto MP Bob Rae and New Brunswick MP Dominic LeBlanc. Toronto MP Michael Ignatieff is also expected to run.

Other potential candidates include former Quebec cabinet ministers Denis Coderre and Martin Cauchon, as well as Ontario MPs Ruby Dhalla and David McGuinty.

Last week, former deputy prime minister John Manley announced that he would not seek the Liberal leadership.

Many Liberals want to avoid a 10-candidate race as happened during the 2006 leadership campaign, CTV's Rosemary Thompson said Saturday on CTV Newsnet. More...