Babyshambles have signed up to a £1 million record deal with Parlophone, according to the Daily Mirror, which should buy a lot of smack and crack. Then gain, Babyshambles have not signed up to a £1 million record deal with Parlophone according to Parlophone, which won't buy much smack or crack at all.
However, the EMI division has confirmed they are in negotiations with Pete Doherty et al regarding a new record deal - Babyshambles having been sans label since parting company with Rough Trade a couple of months back.
On the (potential but in the Mirror's eyes actual) Parlophone deal, a friend of Pete told the tabloid: "He's over the moon because The Beatles were with Parlophone. That means a lot to him. The band can't wait to get their new music on the shelves. It's a very exciting time because a lot of record labels were after them, but in the end they got the best deal money-wise and album-wise with Parlophone."