Hugh Ferris, 58, was found dead in his home in the South Side in 1997. He was a close friend of film star Peter Mullan.
Police today revealed a 49-year-old is the subject of a report to the fiscal.
The body of Mr Ferris was found in his flat in Leven Street, Pollokshields, on December 12, 1997.
He was a comedian and singer in the pub and club circuit in Glasgow.
One of the events he organised was a weekly Sunday ceilidh at Sammy Dow's pub in Nithsdale Road.
In the 1970s, he gave up his engineering job to appear full-time alongside Alasdair Gillies all over Scotland. Later he joined a touring company with folk duo Robin Hall and Jimmie Macgregor.
Earlier this year Mr Mullan, who starred in Braveheart, Trainspotting and War Horse, urged the Crown Office and Strathclyde Police to look into the case again.
While working on his directorial debut Orphans, Mr Mullan got a call telling him Mr Ferris was dead.
He said: "I was aghast."