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Kanye West has confirmed he will be releasing his new album, Yandhi, this weekend to coincide with his live appearance on sketch comedy show Saturday Night Live.

The rapper, who will be the musical guest on the SNL season premiere, has already accepted his new release won't make it to number one, because he's going up against Lil Wayne's long-awaited new album, The Carter V.

"we're releasing Yandhi Saturday night," Kanye writes on Twitter. "We know it will come in number 2 to my brother Lil Wayne and that's lovely The universe needs Ye and Wayne music at the same time."

The Lollipop hitmaker announced earlier this week that he would be releasing the new album on his birthday. Tha Carter V actually drops at midnight.

Rumours suggest the rapper was still putting the finishing touches to the release this week, adding Post Malone to one track.

Other reports hint at a collaboration with late rap star XXXTentacion on the album.

The 20-year-old hitmaker, real name Jahseh Dwayne Onfroy, was shot and killed while leaving a motorcycle dealership in Florida in June, and OnSmash sources claim he will appear posthumously on the record.

Guests will also include JAY-Z, Drake, and Kendrick Lamar.

Tha Carter V was originally set for release in 2014, but it was delayed due to contractual disputes between Wayne, bosses at Cash Money Records, and the rapper's longtime mentor Birdman.

Lil Wayne confirmed the release a video shared on Twitter earlier this week, stating, "With this album, I'm giving you more than me. This is years of work… that you'll be listening to. I hope you enjoy it, you don't have to love it, you don't have to like it, but I hope you enjoy it."