The MY GENERATION singer wants to turn his back on youthful rock music in a bid to reflect the surviving members of the band's age and experience.
He tells the New York Daily News, "Pete and I have been working in the studio, and we'll release it if we feel it's worthy. You want it to be relevant.
"Townshend is one of the few real great rock 'n' roll writers, and you don't want to just drag that into old age. It's always frustrated me - rock 'n' roll and its statement about youth.
"Old age has its own problems, and it'd be great for Townshend to put those words into music."
Original The Who members Keith Moon and JOHN ENTWISTLE died in 1978 and 2002 respectively.