MONTREAL — Michael Ignatieff and Bob Rae are still planning to run for the Liberals in the next election despite losing the leadership to Stephane Dion in a stunning come-from-behind upset.

Many Liberals privately speculated that Ignatieff, an internationally acclaimed scholar, might return to Harvard while Rae, a former Ontario premier, might simply return to his Toronto law practice.

Ignatieff, at least, already has a seat in the House of Commons. And he indicated Sunday that he intends to hang onto it.

"Oh yeah. I'm not going anywhere," Ignatieff told reporters on his way into a luncheon hosted by Dion for all seven defeated candidates, their spouses and top aides.

"(Dion's) going to be a good leader. He's going to be the next prime minister of the country and I'm going to work real hard to make all that happen."

Rae, looking drained and puffy-eyed, was not quite so effusive.

"Yes, that's still my intention," he told reporters when asked if he'll seek a seat in Parliament.

"I said during the leadership race that that was the plan and it's still the plan."

Privately, some of Rae's friends were more doubtful. They suggested it will depend in part on how he's treated by Dion and whether Rae feels he can play an influential role.

Dion said he hasn't yet discussed future roles with his erstwhile rivals. But he said he hopes both Ignatieff and Rae will be major players.

Going into the leadership convention, Ignatieff and Rae were in first and second spot. Dion, in fourth at the start, catapulted into first Saturday, crushing the hopes of the two front-runners.

Hockey legend Ken Dryden, who came fifth, likened defeat in the leadership contest to losing the final game of the Stanley Cup playoffs.

"What happens is that right up to the literal moment that the game ends, you think you're going to win, there's a scenario of how you can win. You're absolutely emotionally unprepared for losing and the moment that buzzer goes, it's over ... You just emotionally come crashing down."

Sunday's lunch, at which Dion asked all his erstwhile rivals for their views on how the party should now proceed, was a good start at applying balm to wounded egos.

"You do feel as if you are wanted and belong when somebody wants to hear what you say," said Dryden.

Rae said the conversation was "candid and very direct and Mr. Dion set a great tone for the meeting."

Gerard Kennedy, the fourth place contender whose suprise move to Dion on the second ballot sealed the outcome, said Dion invited his former competitors to give their "frank opinions about a variety of things" and they obliged.

"So it wasn't just symbolic, it wasn't just for show, it was actually some early indications of cohesion."

Kennedy admitted a lot of Liberals are "still licking their wounds" but he said they don't have the luxury of time to get over their disappointment. Everyone needs to begin working together "very, very quickly because we have to be prepared to fight an election very quickly."