Roger Griffiths, 34, from Wetherby, West Yorkshire, won £1.8m in the National Lottery draw on 22 October and hopes to use the cash to help his old band, FMB, release one of their original singles.
FMB formed at Lancaster University in 1992 and were the subject of Channel 4 documentary The Next Big Thing, which followed them around the gigging circuit looking for their lucky break.
But despite attracting a loyal following and playing to large crowds, including a set at Reading Festival, a record deal proved elusive. The band members eventually went their separate ways, but Mr Griffiths never stopped dreaming of what might have been. Now an IT consultant, he decided in August to approach the producer of The Next Big Thing, Eric Harwood, to see if they could re-form and do another series.
At the time it was unclear whether this would be possible, but Mr Griffiths' new-found fortune means the band are set to play again and may be the subject of another documentary. Harwood is believed to be very keen on the project.
Mr Griffiths said: "When we tried the first time, the music industry was very different and trying to make it through the medium of TV proved really hard.
"But now everything's changed and it is possible to make it without being signed to a major label."