A singer-songwriter from Indiana named Bill Wilson, who died in 1993, claimed that he wrote the lyrics to this song. He would often tell the story in concert, which was recorded for a 24-track CD that was released by a production company which recorded various artists between 1989-1995. One of the tracks is Wilson (identified only as "B. Wilson") performing "Sultans Of Swing."
There is an asterisk after his name and on the CD it says that this was from a live show performed at The Warehouse in Indianapolis, Indiana. Before Wilson plays the song he says the following: "I do this thing I co-wrote about, I guess, it's been about 12 years ago I wrote the lyrics and a friend of mine used to work a lot of sessions for my old producer, Bob Johnston, and worked a session with this fellow from England by the name of Mark Knopfler. Has his own group over there called Dire Straits. He had this little melody. It sounded like 'Walk, Don't Run.' And he had this little story concerning a band that nobody wanted to listen to. Only a few people show up to hear. So we got together one night after the session and tossed these lyrics around on a napkin and I guess I wound up writing most of the lyrics to the tune. Made enough money to buy a new Blazer that year I remember, so... didn't do too bad. It goes like this..."
Then he starts playing an acoustic guitar, strumming Spanish style and singing "Sultans." The lyrics are pretty close to what Mark Knopfler recorded but are slightly different. In 2009, this was posted to YouTube
It is unlikely that Wilson's account is true. Knopfler has never made mention of him, and Wilson is not credited for any contribution to the song. Also, the timeline doesn't sync: Mark Knopfler didn't come to America until after the album was released. The session work he did in Memphis was in the late '80s and early '90s when he was on a break from Dire Straits.