"This is more likely to become an open convention than we thought before," said Ryan, who is also the chairman of the convention to be held in Cleveland in July, yesterday.
At this convention, Republican party's 2,472 delegates elected from across the country through primaries and caucuses nominate their presidential candidate with a majority vote.
As of now, controversial real-estate tycoon Donald Trump has the most (673) delegates. He is followed by Senator Ted Cruz (411) and Ohio Governor John Kasich (143).
Political pundits say there is a possibility of Trump not reaching the halfway mark, as a result of which the nominee would be elected at the convention - a rare development in the party. The last contested convention was in 1976.
Such a convention is called "open" or "brokered" or "contested" convention as after the first round of voting the delegates are open to vote for any candidate.
"We are getting our minds around the idea that this could very well become a reality, and therefore those of us who are involved in the convention need to respect that," Ryan said.
"I will have to obviously bone up on all the rules and all of those things," he said.
"My goal is to be dispassionate and to be Switzerland -- to be neutral and dispassionate, and to make sure that the rule of law prevails, and to make sure that the delegates make their decision however the rules require them to do that. I will acquaint myself with these things at the right time," Ryan said.
Reince Priebus, chairman of the Republican National Committee, hoped there is unlikely to be a brokered convention.
"I would tell you is that if someone gets the majority of delegates, of bound delegates before the convention, they're going to be the nominee. There's no doubt about that," Priebus told Fox News.
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