Elton has finally confirmed that he and his long-term manager John Reid have parted company. Elton said the split was amicable. He continued he was keen to take more control of his life in all areas and had shaken up the structure of companies controlling his career.
Colin Bell, an executive with London Records, will be managing director of Elton John Management Ltd., a new company set up by Elton to promote his career affairs.
The story began on May 11, 1998, when George Matlock was told that Elton John has sacked his long-time manager of nearly 30 years, John Reid, after an acrimonious dispute over his career and financial affairs - and it was hard to believe it was true that time.
On May 12, 1998, British media reports said that Elton refused to talk to reporters who were quizzing him in New York City in regard of the split.
Meanwhile, Elton's partner, David Furnish, was quoted as telling reporters back in London: "I've been told not to breathe a word about any of the discussions ... it's a private business matter and isn't to be discussed publicly." John Reid himself was not available for comment.
JRE officials on May 15, 1998 were unable to deny the rumours. A spokesman said: "We're not giving any comment. The matter's still unresolved, and when it is, we will issue a statement via Britain's Press Asssociation news agency," he said.
When pressed on the fact that the longer JRE puts off making an official statement the more damaging the rumour becomes, the JRE official added:
"We're not even in a position to deny the press comments."