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His sons will be 8 and 10 years old when the Elton John farewell tour concludes.

He has suffered several medical setbacks of late, including a bacterial infection past year that he contracted during a South American tour and an E. coli bacterial infection in 2009.

The legendary singer is allegedly gearing up to announce he is backing away from music according to The Mirror, although he is set to make an official statement later today.

John, who has Grammy, Oscar and Tony awards for his work in film and theater including The Lion King and Billy Elliott, said he planned to remain creative but said that after the tour he would likely take 2 or 3 years off from writing music.

Not a bad little retirement fund, eh? "I want to spend time with my boys". "I've been touring since I was 17 with various bands".

Since he started touring in 1970, Elton John has performed more than 4,000 times in 80 countries.

"I don't want to go out with a whimper, I want to go out with a bang". "I'm 71. I can't physically do the traveling anymore".

"I'm not Cher", John jokes. The announcement will take place at 12:30 p.m. EST via a YouTube livestream, and a teaser clip opens with the phrase "I've finally decided where my future lies" - a line from John's iconic song "Goodbye Yellow Brick Road".

Following his return John had to cancel the May and April dates in his Las Vegas residency.

- In 1991, Elton joined Michael on stage at London's Wembley Arena on the final date of Michael's Cover To Cover tour for a rendition of the ballad. Last year, I picked up an infection in South America.

At the time, it was reported that he became "violently ill" during a flight home from Santiago, Chile, and was brought to the hospital as soon as he landed. The music icon's final tour will begin in the USA on September 8, 2018 and will hit five continents, with the superstar performing for his fans during more than 300 planned shows. "But I still did 96 shows past year".