Irish rock band U2 have turned down an offer to license their 1987 hit song “Where the Streets Have No Name” for use in a television ad. U2 front man Bono was quoted as saying, “We almost did. We sat down. I know from my work in Africa what £12.5 million could buy. It was very hard to walk away from £12.5 million”.

The forty-five year old singer, whose philanthropic activities have garnered him two Noble Peace prize nominations, went on to say, “So we thought, we’ll give the money away. But if we tell people we’re giving the money away, it sounds pompous”. In the end the band agreed not to accept the offer because “Where the Streets Have No Name” was a song they did not want associated with a commercial.

Last year U2 was featured in Apple’s iPod television spots playing their hit single “Vertigo”. The band received heavy criticism for the venture even though they did not accept any payment from Apple. U2 is about to wrap up the U.S. leg of their “Vertigo” tour and will soon be heading to Europe.

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