Rod Stewart has called off the sale of his music catalogue to Hipgnosis Songs Fund.
The 78-year-old music legend had reportedly spent two years negotiating a deal with the company's founder and CEO Merck Mercuriadis.
However, the 'Handbags and Gladrags' hitmaker decided that Hipgnosis - which has already bought the rights to music by Bruce Springsteen, Justin Bieber and Lindsey Buckingham - was not the right owner for his "life's work".
In a statement, he said: “This catalogue represents my life’s work.
“And it became abundantly clear after much time and due diligence that this was not the right company to manage my song catalogue, career or legacy.”
No further details about the proposed deal were made public, such as the price and how much of his catalogue he was planning to part with.
Rod is one of the best-selling stars on the planet, having sold more 250 million records worldwide.
His hits from his six-decade-spanning career include 'Maggie May', 'Tonight’s the Night (Gonna Be Alright)', 'All for Love', 'Da Ya Think I’m Sexy?', 'Forever Young', and 'One More Time'.
Whilst there was no sale this time, Rod will soon have a new source of income, selling his own blended Scotch Whisky brand.
The rock star has created a line of the distilled spirit in partnership with the newly-launched brand Wolfie's which he believes depicts the "carefree behaviour" of his earlier life, and he wants to "let the good times roll" with the tipple.
He said: "Wolfie’s is a rascal of a thing and with just a sip the whisky takes you back to the good old days. Fine-tuned and perfectly balanced, Wolfie’s is a delight both over ice and mixed into a favourite cocktail. It’s a fine tipple, whether you’re partying with friends, celebrating a Celtic win or reminiscing with family. For me, Wolfie’s depicts the carefree behaviour of my more mischievous days and the excitement of what life still has to offer – let the good times roll."
The 'Do Ya Think I'm Sexy?' hitmaker has even referenced the opening track from his 1991 album 'Vagabond Heart' with the project as the lyrics to 'Rhythm of My Heart' have been emblazoned onto the bottle, the song itself serving as a nod to his own Scottish heritage.
Wolfie’s will be available to buy online for £35 from Monday 19 June, and in the meantime, fans are encouraged to sign up at www.wolfiesiscoming.com to gain access to an exclusive presale from Friday 16 June.
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