Slash's Official Fan Site has been updated with the following post:
"On the net, rumor has it that RCA has dropped Velvet Revolver. Slash says that while it is true that VR is no longer with RCA, the truth is not as negative as the rumor.
The band owed RCA money for a third album which at this time they are unable to produce (no singer). The band and RCA parted amicably.
When they are recording the new album, it most likely will be for a new label."
In a recent interview with Rolling Stone Magazine, Slash said Velvet Revolver is doing fine, writing songs and on a quest to find a singer.
