But Gary Busey only just avoided the cutlass after he corralled executives from the company during their presentation and told them their lotion made him feel 'really sexual'.
Rocker Meatloaf stuck the knife into the Point Break star after exploding with rage at the actor during last week's task.
In the boardroom, Meatloaf told Donald Trump: 'Gary told the executives 'This whole thing makes me really sexual'.'
Quizzed about his inappropriate comment, Busey denied saying the words but straight-talking country singer John Rich corroborated Meatloaf's accusations.
Rich said: 'You did say that. It was disturbing.'
McGrath was the project manager for the ill-fated pirate-themed pitch for the tanning company.
He chose to bring only Busey back into the boardroom for the final cut.
His team had been up against project manager La Toya Jackson, who headed the girls team, and narrowly won by using the Australian Gold mascot - a koala bear - in their street presentation.
In the boardroom, McGrath took the fall for Busey.
After being fired by Donald Trump he said: 'It was all my concept - if they truly didn't like my concept, who else can I point the finger at?'