The longstanding rumor was that keyboardist for classic rock group was partially responsible for being dropped from A&M Records in the late 1970s. But, in a new interview, the prog icon says that wasn't the case.

At the time, the Pistols—and —were at the height of their infamy but in need of a home. The British label EMI had released the band's debut single, "Anarchy in the UK," in 1976, resulting in protests and boycotts. Amidst the backlash, EMI dropped the band by January '77; Matlock left the following month with , now known as , taking over on bass.

The Sex Pistols signed with A&M on March 10, 1977. However, less than a week later, the British media reported that A&M had dropped the Pistols after many of the label's high-profile members threatened over the punks' signing.

Wakeman, who had just launched a solo career at the time, was one of those rumored artists—but he says it is a load of "total bollocks."

"Basically," explains Wakeman in a new interview with MOJO magazine (h/t Louder), ", who was the [UK] head of A&M Records at the time, was told by America that they didn't want them on the label. He'd already signed them, so he was looking for an excuse to get rid of them."

"So he used me and [The Carpenters'] , saying that we sent them letters saying that we'd leave the label," added Wakeman. "The press officer thought that I wouldn't find out because I was living in Switzerland. But they forgot that people flew over all the time, and they brought newspapers. I went nuts."

Why did A&M want to discharge the Pistols? Louder reports that days after they signed their deal with, the band got into a physical altercation with Old Grey Whistle Test presenter and BBC recording engineer George Nicholson while at a nightclub. Word of the incident got back to the heads of A&M, who decided it was time for these punkers to go.

The Pistols, minus Lydon, have reformed with singer Frank Carter on vocals. They recently made waves forming an impromptu supergroup with another iconic British group.

Related: Legendary UK Rock Stars Form Random Supergroup During Practice Session