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Jeremiah Wright returns? Political group plans $10m anti-Obama ad blitz.

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In this March 25 photo, Rev. Jeremiah Wright speaks in Jackson, Miss. A super PAC working to defeat President Barack Obama is preparing an ad campaign highlighting Obama's ties to his former pastor.

Rogelio V. Solis/AP

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A group working to defeat President Barack Obama in the November election is preparing an ad campaign highlighting Obama's ties to his controversial former pastor.

A Republican strategist involved in the planning said conservative billionaire Joe Ricketts wants to bankroll an effort publicizing the racially incendiary sermons delivered by the Rev. Jeremiah Wright at a church Obama once attended. The sermons presented a hurdle for Obama when he ran in 2008.

The strategist spoke on condition of anonymity to discuss private strategy sessions.

The plan would involve at least $10 million in advertising. News of the campaign was first reported by The New York Times.

The campaign manager for Republican challenger Mitt Romney, Matt Rhoades, said the Romney campaign would repudiate any efforts that amount to "character assassination."

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