Ford was encouraged by his former Secretary of State, Henry Kissinger as well as Jim Rhodes of Ohio and Bill Clements of Texas to make the race. On March 15, 1980, Ford announced that he would forgo a run for the Republican nomination, vowing to support the eventual nominee.[174]

On July 16, 1980 (day 3 of the 1980 Republican National Convention) Gerald Ford consults with Bob Dole, Howard Baker and Bill Brock before ultimately making a decision to decline the offer to serve as Ronald Reagan's running mate.
After securing the Republican nomination in 1980, Ronald Reagan considered his former rival Ford as a potential vice-presidential running mate, but negotiations between the Reagan and Ford camps at the Republican National Convention were unsuccessful. Ford conditioned his acceptance on Reagan's agreement to an unprecedented "co-presidency",[175] giving Ford the power to control key executive branch appointments (such as Kissinger as Secretary of State and Alan Greenspan as Treasury Secretary). After rejecting these terms, Reagan offered the vice-presidential nomination instead to George H. W. Bush.