He wants to “renew and revive” The Smashing Pumpkins.

Corgan made his wishes known by placing full-page newspaper ads in the Tribune and Sun-Times in his hometown of Chicago.

His statement first addresses his new release, The Future Embrace, and his upcoming tour plans.

“I have done my very best to create something fresh and exciting to listen to, and I hope you get the chance to check it out. Having just returned from a tour of Europe, I am now set to play 18 additional dates in North America, beginning tomorrow in Atlanta. After that we head to Japan, and then Australia and New Zealand for the first time since 1998.”

Then comes the shocker. And here it is, in Corgan’s own words:

“Many have assumed that the decisions that I have made over the last few years have been to try to get away from something. But what I have been really trying to do is find that same kid again, the one who believed he could change the world with a song. There is an old saying that goes ‘you can’t go home again,’ but I believe that your home is wherever your heart lies.

“When I played the final Smashing Pumpkins show on the night of December 2, 2000, I walked off the Metro stage believing that I was forever leaving a piece of my life behind. I naively tried to start a new band, but found that my heart wasn¹t in it. I moved away to pursue a love that I once had but got lost. So I moved back home to heal what was broken in me, and to my surprise I found what I was looking for. I found that my heart is in Chicago, and that my heart is in The Smashing Pumpkins.

“For a year now I have walked around with a secret, a secret I chose to keep. But now I want you to be among the first to know that I have made plans to renew and revive The Smashing Pumpkins. I want my band back, and my songs, and my dreams. In this desire I feel I have come home again.”

So, now what happens? It’s not clear if Corgan wants to get back together with guitarist James Iha, drummer Jimmy Chamberlain and bassist D’arcy (or possibly, Melissa Auf Der Maur).

The Pumpkins were one of the most successful touring and recording rock bands of the ‘90s. Will band mastermind Corgan be able to rekindle that creative flame? We’re willing to bet that, if it happens, we’ll hear it first from Billy himself.