LAS VEGAS, NV - MAY 19: Recording artist Prince performs during the 2013 Billboard Music Awards at the MGM Grand Garden Arena
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Only a few hours after the monumental announcement was made that Prince would be releasing a new album, lo and behold we have a new song! Just before midnight Prince dropped his new single "The Breakdown" on iTunes. 

"Listen to me closely as the story unfolds," the haunting ballad begins, with just piano keys and his voice leading into it. "This could be the saddest story ever been told."

It's an incredibly mournful track which speaks of regret and disappointment, and it's in true Prince form all the way through.  

This is just the latest in a string of much-anticipated news by Prince. His new recording deal is with Warner Bros., more than two decades after he scrawled the word "slave" on his face to protest his contract with the label, so apparently the two are on good terms again. 

There’s also a 30th anniversary deluxe edition of his classic 1984 album Purple Rain. Although there’s still no news on the release date for the new album,  according to the press release it could be sometime this year. 

"A brand-new studio album is on the way and both Warner Bros Records and Eye are quite pleased with the results of the negotiations and look forward to a fruitful working relationship," Prince said in a statement. 

Check out "The Breakdown" below.

Aside from releasing a collaboration track with Zooey Deschanel, Prince also worked with Rita Ora

Speaking about the project, Ora said that she flew to Minneapolis for a week to record with him in his famed Paisley Park studios:

"He plays like 50 instruments so you could do anything and he'll fix it. He has an answer for everything. He's a genius. When we connected I basically got a call from my management saying, 'Prince would love to speak to Rita.' And I was like, 'Wait, like the actual prince? The Prince of Wales?' But I went that night and met him and we listened to music and it was amazing."