Graeme Souness was going to replace an under-fire Alex Ferguson as Manchester United manager on the say-so of Rangers chairman David Murray.
The Ibrox owner had been approached by businessman Michael Knighton about making a serious investment to strength the latter’s bid to buy the English giants.
Murray initially agreed before pulling out of the 1989 deal, along with other investors.
Souness insists that, had Murray stuck to his initial agreement, he would have been moving down to Manchester to take over from Sir Alex Ferguson, who’d yet to win a major trophy in his four years at Old Trafford.
Souness told BBC Radio 5 Live: “He [Knighton] ended up in Glasgow trying to raise money.
“David Murray said he was going to give him the money – so he’d have owned both Rangers and Man United.
“They shook hands. I went to bed believing I was going to go down there.
“I don’t think Fergie won a trophy for four years and the league for seven years – he was having a difficult time.
“I don’t know how it’d have worked out – an ex-Liverpool player.
“I was pretty fearless in those days though.
“I went to bed the new manager of Man United and Walter was going to stay and manage Glasgow Rangers.”