This post has been updated.

Former governor Tim Kaine (D) raised $1.2 million in the latest fundraising period, nearly a half-million dollars more than his likely Republican rival in Virginia’s marquee U.S. Senate race, George Allen.

Kaine, who has already spent $2.5 million to reserve TV ad time for the fall campaign, has $2.5 million in the bank. 

In this Dec. 7, 2011 file photo, former Virginia governors Tim Kaine, left, and George Allen, a former senator, greet each other in Richmond. (Steve Helber/AP)

Allen raised $750,000 in the same pre-primary period from April 1 to May 23, and has about $2.75 million in the bank, according to his fundraising reports posted online.

But Allen, who is facing three opponents in a GOP primary next month, is spending his money far faster than Kaine — 85 percent to 60 percent — which means he’s not saving as much for the competitive race expected later this year. 

Kaine, former chairman of the Democratic National Committee, has raised $8.6 million since his campaign began more than a year ago. Allen, a former governor and senator, has collected about $7.5 million.

“We are pleased with the growing strength of grassroots support we have seen from every region of Virginia,’’ Allen spokeswoman Katie Wright said. “There is little doubt Chairman Kaine will continue to be rewarded for his loyalty to President Obama’s agenda. We are confident we will have the resources necessary to get out our message and continue to build the infrastructure needed to win in Virginia.”

 Kaine has consistently outpaced his chief rival in a race that is expected to be one of the most expensive in the country.

He automatically became the Democratic nominee when no others submitted signatures to have themselves placed on the ballot by last week’s deadline.

Allen has far more money than his three Republican rivals: tea party activist Jamie Radtke, Del. Bob Marshall (Prince William) and Bishop E.W. Jackson.

Radtke reported raising $60,000 during the period with nearly $50,000 left in the bank, according to her report filed online.

Marshall and Jackson have not released their most recent numbers. Marshall, who entered the race in mid-January, raised $23,000 and loaned his campaign $10,000, during the previous quarter, which ended in March, ending with $12,000. Jackson, raised $20,000 and had nearly $6,000 cash on hand.