As he first teased back in October last year, Rock and Roll Hall of Fame inductee Rod Stewart confirmed the release of his new album, which he described as "just a good, old-fashioned Rod Stewart album (with) a lot of mandolin and acoustic (guitar) and fiddles and good storytelling, I believe, too." The forthcoming album is his first recording under Capitol Records after releasing his holiday album "Merry Christmas, Baby" last year on Verve, AceShowbiz said.

Capitol previewed seven songs from the set for a group of journalists in New York City last Thursday, March 7. Entitled "Time", the new album is his first set of all-new material since 2001 and credits long-time collaborator Jim Cregan for inspiring it.

"About a year ago, I was sitting at my house in England, and [Cregan] came around and said, 'Come on, let's try to write a song,' " Stewart revealed about the motivation for the new album. "And I said, 'No, I can't be bothered. Those days are over.' But we sat down, I started humming a melody and he took it away and sent it back and said, 'Listen, this is pretty good,' so I wrote some words for it and ever since then it's just been flowing like a river."

Although a tracklist is yet to be finalized, the album is set to be released on May 7.