UPDATE - 7/16@2:13PM: As several readers have pointed out in the comments, the album in question must have been Grace Under Pressure based on the timing of when Rush played Wembley Arena back in the '80s.

The Yes official website featured a fan Q&A with legendary bass player Chris Squire a couple of weeks ago and one of the questions was regarding Geddy Lee (thanks Leeo S). In his answer Squire reveals that he was once a candidate to produce Rush:

Have you ever met or had a chance to play with Geddy Lee? The man cites you as his biggest influence and was curious if that ever happened?

I have met Geddy Lee a long time ago at Wembley Arena when Rush played there. In fact, I was a possible candidate to produce a Rush album, but when I showed up there, Trevor Horn was sitting next to me. [laughs] I said to Trevor "What are you doing here?" and he said "Oh, I've been asked to come and meet the band because I might be producing them", and I said "so have I!". That was quite a long time ago - the early 80′s, I think. He cites me as a big influence? Well, that's very nice of him. They do good work, that band.

Squire doesn't reveal for which Rush album he was a candidate, but he was likely one of the many producers considered after the band parted ways with longtime producer Terry Brown for the Grace Under Pressure album. Although it's possible he was being considered to produce Power Windows as well.

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