apologized to fans Tuesday for his latest greatest hits album, saying his label should have instead released a record with new music.
"I am saddened and disappointed that my label chose to put out another hits album instead of new music," says the country singer. "I've only had one studio album since my last hits package. It has to be just as confusing to the fans as it is to me."
McGraw, 41, said he has been working on a new studio album for more than a year and has debuted three new songs on his tour. But he said his label, Curb Records, decided to release a greatest hits album instead, to extend his contract term.
"I had no involvement in the creation or presentation of this record," he says. "Sure, I love the songs and I don't want to take anything away from all the creative people who were a part of making those records. But the whole concept is an embarrassment to me as an artist. In the spirit of an election year, I would simply say to my fans 'I'm Tim McGraw, and I don't approve their message.' "
According to a Curb Records statement, Executive Vice President and General Manager Dennis Hannon had "numerous conversations" with McGraw's representatives about "all aspects" of Greatest Hits 3
"The good news is that the album is anticipated to debut as the No. 1 album on the Billboard
Country chart," the label says. "Nevertheless, we share Tim McGraw's disappointment with the first week's sales levels and we acknowledge that unfortunately the week that this album was released was right at the peak of the collapse of the economic and finance markets."
Curb Records adds: "We are going to work hard to try to take the current single 'Let It Go' to No. 1 in hopes that the economic climate is improving and that sales will also improve."
1999: Tim is PEOPLE's sexiest country star RELATED GALLERY:
Tim dishes on Faith and family