U2 Walk On With New Management

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It’s official: U2 are no longer under the management of Paul McGuinness, though he will remain on as their “mentor-in-chief”.

This week saw the end of an era when Bono, Edge, Adam and Larry singed a new management contract with Live Nation and Guy Oseary, who manages Madonna amongst others.

In a statement on their www.U2.com website, the band said they wanted to “publicly thank Paul McGuinness for his extraordinary leadership, guidance and friendship over the last 35 years”, adding, their original manager “saved us from ourselves many times over and we would not be U2 without him”.

“Sometime soon, U2 will begin a new adventure around the world and we totally understand and respect Paul’s desire to not run away with the circus – AGAIN.”

U2 say they are now under the guidance of Guy Oseary “with Paul’s blessing” as they prepare to release a new album in 2014.

They recently revealed their first new song in three years: ‘Ordinary Love’ for the biopic of the late Nelson Mandela: “Mandela: Long Walk to Freedom.”