Country singer Tim McGraw apologized to his fans for his latest greatest hits CD, criticizing his label for not releasing a record with new material, People magazine reported Tuesday.

“I am saddened and disappointed that my label chose to put out another hits album instead of new music,” People quoted McGraw as saying.

The 41-year-old singer said he has been working on a new album for more than a year and has even debuted three new songs on his tour. But his label, Curb Records, decided to release a greatest hits album instead to extend his contract, People reported.

“I’ve only had one studio album since my last hits package,” McGraw said. “It has been just as confusing to the fans as it is to me.”

McGraw added that he didn’t want to “take anything away from all the creative people” who helped make the records but that the whole concept was an “embarrassment” to him 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.”

Curb Records Executive Vice President and General Manager Dennis Hannon said in a statement that he had several conversations with McGraw's representatives about all aspects of "Greatest Hits 3." He also said the CD is projected to debut at No. 1 on the Billboard Country chart this week, though he expressed concern that it was released "right at the peak of the collapse of the economic and finance markets."

"We are going to work hard to try to take the current single 'Let It Go' to number one in hopes that the economic climate is improving and that sales will also improve."

McGraw has been with Curb, an independent label, since his 1993 debut. Other artists on the roster include LeAnn Rimes, Jo Dee Messina and Rodney Atkins.

McGraw had a similar dispute with Curb Records in 2000 when he wanted release an album of new material, but the label instead put out his first greatest hits package in time for the holiday season.

Click here to read the full report from People magazine.

The Associated Press contributed to this report.