Trump is not expected to ever formally concede, according to people close to him, but is likely to grudgingly vacate the White House at the end of his term. His ongoing efforts to paint the election as unfair are seen both as an effort to soothe a bruised ego and to show his loyal base of supporters that he is still fighting. That could be key to keeping them energized for what comes next.

“He intends to fight,” Trump economic adviser Larry Kudlow said as it was becoming clear that the president was headed for defeat.

Would Trump ever concede? “I doubt it,” said Trump’s longtime friend and adviser Roger Stone, whose prison sentence was commuted by Trump in July. Stone asserted that Biden, as a result, will have “a cloud over his presidency with half the people in the country believing that he was illegitimately elected.”

Allies suggested that if Trump wants to launch a media empire in coming years, he has an incentive to prolong the drama. So, too, if he intends to keep the door open to a possible 2024 comeback — he would be only a year older then than Biden is now.