The Smiths refuse to reform for $5 million

According to MTV.com, Morrissey admitted to turning down a reported $5 million dollars which was promised if his former band reformed for this year's Coachella festival.

During an interview at this year's South by Southwest conference Thursday, Moz revealed that the Smiths were offered the sum and explained:

When you start doing things for money, something terrible happens to you, I haven't reached that stage ... but I might.

As for Morrissey himself, he is currently gearing up for the April 4th release of his eighth solo album, Ringleader of the Tormentors.