U2U2’s latest studio effort No Line on The Horizon was the band’s first release with Mercury Records, after having spent almost thirty years with Island Records. The Irish rockers followed former Island Records boss Jason Iley to Mercury, but when Universal Records closed down Mercury earlier in 2013, it was anyone’s guess where the band might end up next.

Now PA reports that U2 are heading back to Island Records. They quote a source who says that, “they are going back to their spiritual home.” The news comes amidst rumors of a new U2 album being released in the near future. U2 bassist Adam Clayton has said that he hoped the band would wrap up recording sessions before the holidays and there’s talk of the band announcing album number thirteen during the Super Bowl on February 2.

In related news U2 recently parted ways with long time manager Paul McGuinness, who had been taking care of the band’s business since their early days in Dublin. “Sometime soon, U2 will begin a new adventure around the world and we totally understand and respect Paul's desire to not run away with the circus – AGAIN,” the band said in a statement on their website.