Martin Edwards approached Whelan when Michael Knighton's takeover collapsed in 1993.
Whelan said: "I've known Martin a long time and he asked me to buy United when Knighton pulled out because he didn't have the cash. I even took the contract home with me and United was mine for just £11m - all I needed to do was sign it.. I gave it serious consideration but realised merging the club with my JJB company was a potential recipe for disaster."
"I just couldn't see football fans buying replica shirts or anything else from me if they thought that the money would at the end of the day be benefiting United."
Confirmation that consumer power is a very real threat to the money men in the game - boycotts do work.