John McCabe, 47, was arrested Detectives had been tipped off that he was to be targeted by gunmen.They feared a bloodbath as McCabe and his Daniel cronies were also aware of the threat and were preparing to retaliate.
One source said: "There was a well-developed plan to target McCabe at a party which was to be attended by most of the Daniel mob.
"He and the Daniels were ready for it. If the party had gone ahead, there could have been carnage with innocent people hurt.
"Hours before it was due to start, McCabe was busted and the cops were able to keep him in custody.
"The party was cancelled but when some guests arrived, armed police were parked outside as a precaution."
The foiled assassination plot came just weeks after the murder of Daniel clan enforcer Kevin 'Gerbil' Carroll, 29.
Shoppers fled in terror as a gunman unleashed more than 10 shots at Carroll outside an Asda store in Robroyston, Glasgow.
Police have so far succeeded in preventing revenge attacks on the rival Lyons family who the Daniels blame for Carroll's murder.
Friday night's plot was orchestrated by other enemies of McCabe - not the Lyons.
A police source added: "McCabe has plenty of his own enemies.
"There are many in the criminal underworld who want to take advantage of the Daniels' perceived vulnerability."
McCabe is the prime suspect in the 2000 murder of gangster Frank McPhie in Maryhill, Glasgow.
In what's been described as the most professional underworld hit in Scotland, McPhie, 51, was killed by a sniper from high flats.
McCabe was arrested over the killing but charges were later dropped through lack of evidence.
McPhie had twice walked free from murder charges - in 1997 and 1998 - after juries returned not proven verdicts.
McCabe is due to appear at Glasgow Sheriff Court tomorrow on drugs charges.
Daniel family head Jamie, 52, is on remand facing vandalism and breach of the peace charges.
Strathclyde Police said: "A 47-year-old man was arrested in Kelvindale, Glasgow, on Friday and has been detained in connection with alleged drugs offences."
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