It is no longer a rumor, a message Posted to Sammy Hagar�s official website states that he indeed has formed a new supergroup with former Guns N' Roses guitarist Slash, Van Halen bassist Michael Anthony and Journey�s Neal Schon and Deen Castronovo. 

According to the Hagar report the group has �finished two great songs, �Vertigo� and �Peeping Through A Hole� and are hoping to have them in a movie soundtrack.  The music sounds like a combination of Van Halen, Led Zeppelin, and Tool.�

Speculation has it that the group will be managed by Irving Azoff (Eagles, Journey, former president of MCA records) and plans to release a full-length album by year-end with a major tour to follow. 

More on this story as it develops. 

Update 2-25-02: Despite Sammy Hagar�s claims to the contrary, former GNR axeman Slash says that he isn�t part of the supergroup featuring A news post of Snakepit.org gives us Slash�s side of the story. �He did not play on these or any other songs with the so-called supergroup. He hasn't heard the songs either. Frankly, we were very surprised since it is on Sammy's site. SLASH said this is either a mistake by the person who wrote the news there, or Sammy's team is trying for more publicity or squeezing him to decide. SLASH doesn't sound like he will be doing this project. He talked of all the things he has going and wants to do and can't see an easy way to shoehorn one more in. So, he said to tell all of you that he did not play on the songs and has not decided whether to join up or not. And he reminded us not to believe everything good or bad that you read or hear about him.� 

Meanwhile, Michael Anthony tells fans not to worry he is not leaving Van Halen to take part in this project. This is purely a side project for all involved.