"It's clear, if this continues, that none of the candidates are going to get the 1,991 votes that are necessary in the first round of the convention which means Michael [Bloomberg's] strategy has worked beautifully," Grasso said on FOX Business Tuesday night. "It will go to a brokered convention and all hell will break loose."
While he doesn't think Bloomberg is going to be the beneficiary of a brokered convention, Grasso believes the billionaire entering the race took "the wind out of Sen. [Bernie] Sanders' sails."
As to who might benefit from a brokered convention, Grasso felt one person specifically might throw their hat into the ring.
"Hillary [Clinton] is not out," Grasso noted. "You go to a brokered convention? Hillary is going to jump in" he predicts.
Democratic National Committee officials previously clarified a candidate needs 1,991 delegates during the Democratic National Convention's first ballot in order to gain the party's nomination.
The Democratic National Convention is scheduled for July 13 through 16.