But now Alan McGee, the Scot who managed pop giants Oasis to international fame and worked with a stable of stars at his Creation Records label, has announced he is to make a comeback.
Glasgow-born McGee said he is looking to form a new label and that working with old friends in the band Primal Scream has reignited his love of pop music.
He made the decision after helping organise the Tokyo Rocks music festival in Japan, and said yesterday he plans to get back into music with a new venture and could even resurrect the old Creation name.
McGee said: "Since spending the summer helping curate Tokyo Rocks for next year it's made me realise I do still love it. It was flying back from Japan with the Primals that started me loving it again.
"I have to finish the edit to my film Kubricks and deliver the book I have signed up for, but to be honest I am now seriously thinking about restarting Creation or maybe calling it something else if I can find the right people at a label to work with.
"Music needs a kick in the balls and I have got the music buzz back again after working on Tokyo Rocks."
McGee was the man who spotted Oasis in 1993 when they were just starting out. He famously watched them play after they turned up to support his own band 18 Wheeler at King Tut's Wah Wah Hut in Glasgow, and signed them to his record label four days later.
The band went on to become a household name in the UK and developed a worldwide following, selling millions of records. Other musicians signed to Creation included Primal Scream, The Jesus and Mary Chain, Teenage Fanclub and The Charlatans.
The success of Oasis made McGee one of the most recognisable faces in the British pop scene and he was lauded by both the industry and the music press.
However, Oasis later signed to Sony Records and the Creation label was wound down in 1999. McGee went on to found a second company, Poptones, but it did not achieve the same success and it was closed in 2007 for financial reasons. He has gone on to work in both the film industry and publishing, and claims to have made more money from property than from music.
The 51-year-old also said in 2010 he was fed-up with the state of British pop music and was no longer interested in the industry, a stance he maintained until yesterday's turnaround.
Last night fellow Scottish record label bosses welcomed the return of a man who had put Scottish music on the map.
Stewart Henderson, of Glasgow independent label Chemikal Underground, said: "The music industry always has and always will benefit from having a maverick in it like Alan McGee, and I wish him all the best."
Johnny Lynch, of Fife-based Fence Records, added: "I'm a big fan. I've never met him, and I have no idea what he's like as a person in real life, but he gets my eternal respect for being someone who wielded considerable power within 'the industry' while also being passionate about the music he released – a rare thing."
l The Happy Mondays are to play a gig in Shetland's Mareel Arts centre on Saturday, December 15, their only Scottish date on a UK tour.
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