From the New York Times:

If Republicans were to nominate Mr. Trump or Senator Ted Cruz of Texas, a hard-line conservative, and Democrats were to pick Mr. Sanders, Mr. Bloomberg — who changed his party affiliation to independent in 2007 — has told allies he would be likely to run.

Edward G. Rendell, the former governor of Pennsylvania and a past Democratic National Committee chairman, said he believed Mr. Bloomberg could compete in the race if activist candidates on the left and right prevailed in the party primaries.

“Mike Bloomberg for president rests on the not-impossible but somewhat unlikely circumstance of either Donald Trump or Ted Cruz versus Bernie Sanders,” said Mr. Rendell, a close ally of Mrs. Clinton’s who is also a friend of Mr. Bloomberg’s. “If Hillary wins the nomination, Hillary is mainstream enough that Mike would have no chance, and Mike’s not going to go on a suicide mission.”

In a three-way race featuring Mr. Sanders and Mr. Bloomberg, Mr. Rendell said he might back the moderate former New York mayor.

“As a lifelong Democrat, as a former party chairman, it would be very hard for me to do that,” he said. “But I would certainly take a look at it — absolutely.”

Mr. Bloomberg declined to comment on his interest in the 2016 race, and most of his associates would speak only on the condition that they not be named. Mr. Bloomberg is irked by the perception that he has toyed too often with running for national office, according to several associates, and is said to be wary of another public flirtation