The guitarist has rubbished reports he formed Velvet Revolver with ex-Guns N' Roses bandmates Duff Mckagan and Matt Sorum purely for fun, claiming each "self-sabotaging" member was left close to broke at the end of their spell in the NOVEMBER RAIN band.
And Slash admits their ability to squander their wealth forced them into forming a new band.
The rock icon - who vows to handle his finances with more care in future - says, "People don't realise the technicalities of the rise and fall of Guns N' Roses. Obviously I have a house and a car and a wife and kids, but it's still a matter of keeping your s**t together to be able to do this.
"It's kind of a long story. Not a depressing story, but we're all a bunch of f**king very reckless, self-sabotaging guys. Having been through all the s**t that I've been through, I'm a lot smarter now than I have been.
"You'd have to be stupid to make the same f**king mistakes eight times!"14/01/2005 17:43