Sydney identity John Ibrahim was the intended target of an alleged conspiracy to murder which police say was well-planned but poorly executed, it can now be revealed.

Yousif Zrayka and Siaosi Maeakafa Tupoulahi, both in their 20s, were arrested in Dover Heights in Sydney's eastern suburbs in July after a foot pursuit by police.

They are each facing a charge of conspiracy to murder, in addition to several firearm-related offences including possessing an unauthorised pistol, possessing a loaded firearm in a public place and possessing ammunition without holding a licence.

In late July they were denied bail, after a police prosecutor told Downing Centre Local Court the men were "caught red-handed", with the plot allegedly involving two pistols, jerry cans of fuel, balaclavas, gloves and a stolen vehicle with cloned plates.

The incident was "well planned but very poorly executed", Sergeant Adrian Walsh said.

During the bail hearing, lawyer Abbas Soukie, representing Mr Ibrahim, a high-profile former nightclub owner, requested a suppression order over the name of his client.

While an interim order was made, Mr Soukie today told Magistrate Daniel Covington the matter was no longer pressed.

The cases were adjourned until October.

The court previously heard that prior to police being called, the two accused allegedly approached two vehicles of a similar make and model to their intended target.

During one occasion, Mr Tupoulahi allegedly approached the vehicle, causing a witness in that vehicle to put their hands in the air as a pistol was brandished in their direction.

The court heard that the witness, who also had a child with them, locked eyes with the accused for approximately 10 seconds before he got back in his vehicle.

The conspiracy to murder charge carries a maximum penalty of 25 years in prison.