The Libyan dictator Colonel Gadaffi was 'hours away' from purchasing the biggest stake in Manchester United, according to the man who brokered the Glazer family's takeover of the club.

Turkish-Cypriot financier Mehmet Dalman told the Sunday Times how he flew to Libya by private jet to to discuss a deal to buy-out John Magnier and JP McManus's 29.9% shareholding with Gadaffi's key advisors in 2004.

The Irish tycoons fell out with manager Sir Alex Ferguson over ownership of the racehorse Rock of Gibraltar, and asked Dalman to help sell their shares.

"People don't realise how the [takeover] deal was a whisker away from going to Libya," Dalman said. "Gadaffi almost bought the club. That's how close it got - literally, you're talking about a few hours."

Gadaffi, who died in 2011 , went on to purchase Italian club Perugia after the two parties failed to agree on a price for the controlling stake in United.

Saadi Gadaffi, son of the former Libyan autocrat, revealed further details of the potential deal in a 2005 interview with the Financial Times.