Billy Corgan made a Facebook Live video a few hours ago in which he discussed the future of Smashing Pumpkins and his reconciliation with bassist D’arcy Wretzky, who he kicked out of the band in 1999. Corgan asserted that he’s been talking to Wretzky for the first time in 16-odd years, and that the band’s original lineup is back in contact. This doesn’t come as a huge surprise seeing as how Corgan extended a casual “thank you” note to Wretzky in the form of a Facebook post back in May. He stated that being back in communication has been hugely beneficial, since he considers his bandmates family, and it makes dealing with legal issues easier. However, Corgan asserted that this doesn’t mean the Pumpkins will reunite, and the band is “not at that point” quite yet. “We’re not rushing to something,” he said. “We have to repair some things between us, and see what’s out there for us, if those opportunities are even there.”

Corgan later said that the Smashing Pumpkins aren’t interested in cashing out on their legacy, even though reunion touring is a big moneymaker. He concluded the video by saying that though the band isn’t actively planning a reunion, it’s never out of the question. “I can tell you without a doubt that if that band ever gets back on stage, it will be about music, it will be about playing music that fans love, and that we love.” Watch Corgan’s video and read a partial transcript produced by Alternative Nation below.

There are some things going on, but they’re the type of things I didn’t even think were worth talking about because they’re more private than public. But at the same point, I don’t want people speculating about something that’s got nothing to do with what’s going on. First off, we’re back in contact again, the band. I’ve been in communication with D’arcy for the first time in 16 or 17 years, it’s awesome to have my friend back. So we’re all in communication, which as I said not too long ago, my primary interest in the old band was us having good relationships again.

Not to go into the weeds on the whole thing, but we were a family for a very long time, it just makes life easier to communicate. You can talk about the old days, you can have a laugh, you can see how each other are, you can check in, and sometimes there’s business things that come up where it’s easier to just talk about them than to have to go through a bunch of lawyers and stuff. So maybe that’s fueling some of the rumors. So of course when you get to the point where you’re in communication, and the relationships are good again, and it’s a good vibe, you yourself, and people around you who know what’s going on, start saying: ‘Is the band going to get back together?’ We’re not at that point, and I think that’s a good thing. We’re not rushing to something, we have to repair some things between us, and see what’s out there for us, if those opportunities are even there.

We’re not interested, nor have we ever been interested, in just going out to play because there’s a big stack of money there. Of course the business is part of what goes on, but the band was never about that, and if the band should ever be again in that form, in some iteration, obviously because there’s other people involved, because it would be about the music. So speculate away, because that’s from me, not an anonymous source…

… There’s excitement there that surrounds the idea that maybe there’s the possibility that we will get back together, but until you here it coming from my mouth that the band is getting back together and we will play dates, my primary concern is the family relationships of the band that are ultimately so much more important. I can tell you without a doubt that if that band ever gets back on stage, it will be about music, it will be about playing music that fans love, and that we love.