The Rolling Stones have played down speculation linking the band to an all-encompassing deal with the concert promoter Live Nation.

The report, which emerged in Sunday's Observer newspaper, said that the band were on the verge of ending their 32-year relationship with EMI.

In a statement, the band said: "We are not in talks with Live Nation in connection with any record deal.”

In the newspaper's reports, it was claimed that the deal would give Live Nation control of the Rolling Stones £3million a year back-catalogue and future touring rights.

The proposed deal echoed similar deals signed with Live Nation by Madonna and Jay-Z.

Despite the band's denial, their future with EMI is still understood to be uncertain following the label's controversial takeover by private equity company Terra Firma.

(by Jason Gregory)