[cnn-photo-caption image= http://i2.cdn.turner.com/cnn/2008/images/11/21/art.richardsonhand1121.gi.jpg caption="After dropping out of the presidential race, New Mexico Gov. Bill Richardson, who had worked in Bill Clinton's administration, endorsed Barack Obama."]
CHICAGO, Illinois (CNN) - Gov. Bill Richardson of New Mexico is a serious contender for commerce secretary in the Obama administration, two sources close to the transition said Friday.
The same sources, however, cautioned that Richardson could be tapped for another senior post as well. They do not consider Richardson's appointment to the Commerce Department to be a done deal.
Richardson, 61, was a candidate for the 2008 Democratic presidential nomination. Currently in his second term as New Mexico's governor, he previously served as ambassador to the United Nations and energy secretary in the Clinton administration.