Controversial legal figure Giovanni di Stefano has said his potential investment in Shelbourne football club is not a takeover.

Speaking from Rome, Di Stefano, who is known as the "devil's advocate" and has advised Saddam Hussein and former Yugoslav leader Slobodan Milosevic, said his involvement with the Drumcondra club would be "minor" and in the form of a "participation agreement".

He also said there was another unnamed Irish club he had considered investing in. "There were two clubs in Ireland. One, a smaller club south of Dublin, wanted a complete takeover for smaller money, but I wasn't interested in that."

Shelbourne chief executive Ollie Byrne today confirmed the club had received a preliminary approach from the Italian-born lawyer who also represents Patrick "Dutchy" Holland, the man named in court as having shot journalist Veronica Guerin.

"Ollie Byrne has had this club in his family for generations and I can safely assure all connected with the club that his association with Shelbourne will remain as strong as it ever was," Di Stefano said.

"This will remain his club, not mine, as I'm not experienced in this game . . . sure I didn't know the offside rule until recently."

Byrne said: "We know very little about him and out of courtesy we have accepted an invitation to meet with him. We will approach the meeting with open minds and listen to what he has to say."

The primary concern is to secure the future of Shelbourne FC, said the Dubliner, and "nothing would be done to jeopardise this".

Di Stefano approached Byrne following the club's recent tax problems.

Earlier this month, Shelbourne cleared outstanding arrears due to the Revenue Commissioners totalling some €300,000.

"The club had tax issues and I saw an opportunity to help. I see this a minimal risk investment where I can freely spend half a million euro or even a million euro," Di Stefano said.

Shelbourne supporters have greeted the news with caution.

It is not the first time Di Stefano, who was given a five years prison sentence for fraud in 1986, has turned his attention to football.

In 1999 he approached former Scottish SPL side Dundee with a view to taking over, but a deal fell through. Subsequent attempts to gain controlling interests in Norwich City and Northampton Town also ended in failure.

Di Stefano renewed his interest in Dundee in August 2003 offering to invest £26 million to save the club, but his position as a director was never officially ratified by the Scottish Football Association.

In November 2003, Dundee was placed in administration with debts nearing £20 million. Di Stefano, having fallen out with the Marrs, resigned two months later.

The club argued that Di Stefano failed to arrange the funding he had promised, but he strongly refutes this. He claims he wanted to buy the club for a nominal fee and take over the debts, but the Marrs, who are still Dundee board members, were not convinced Di Stefano had the required funds in place.

While Di Stefano does not claim to be friends with Saddam Hussein he has called the former Iraqi leader a "nice man". "Saddam is not my pal," he once said. "A pal is someone who you go drinking with."

The Italian has also claimed to have worked on an appeal for British serial killer Dr Harold Shipman and says he briefly met Osama bin Laden in Baghdad in 1998.

Of his high-profile, controversial, client list he has said: "I deal with people who are alleged to have committed serious criminal offences. I do not defend Snow White unless she is charged with the seven perverts."