Following a lengthy bidding war, former Rawkus standout Pharoahe Monch recently signed to Steve Rifkind's SRC label.

In the past year, rumors had Monch signing to Denaun Porter's Runyon Ave. label. Several weeks prior to inking the deal with Rifkind, Monch told SOHH.com that the Runyon Ave. talk was "propaganda" and that a straight Shady deal had been on the table.

Word is Sony Music and Bad Boy were also interested in signing Monch.

"I realized I had just heard the record of the year," Rifkind said in a statement in regards to listening to Monch's sophomore solo album.

Rifkind has a history of breaking underground acts like Mobb Deep, Big Pun and The Wu-Tang Clan, among others, via his now-defunct Loud Records. His current SRC roster includes Terror Squad, Remy Ma, Akon and David Banner, among others.

Formerly of Organized Konfusion, Pharoahe released his critically-acclaimed solo debut, Internal Affairs, via Rawkus Records back in 1999. The CD featured his biggest hit to date, the Godzilla-sampled "Simon Says."

The wordsmith followed-up with the single "Agent Orange" in 2003, but his long-awaited set, Innervisions never hit stores. The MCA-distributed Rawkus was later absorbed by Geffen. Once released from the label, Monch went to work on Desire, an album produced by longtime collaborator Lee Stone and the aforementioned Porter.

"On a creative and business level, I've never been this excited," Monch said via a statement. "I've had the time to work on this album, and being a perfectionist, it's really come to fruition. It's very soulful, very gospel, a fresh, new sound for me. It shows so much growth spiritually, almost as if I'm a new artist. When I play the record for people, that's how they hear it."

The single "When the Gun Draws" is scheduled to drop via white label this May and will be accompanied by a short film. The track reprises Organied Konfusion's "Stray Bullet," in which a story is told from the perspective of a bullet. Meanwhile, "Push" will serve as Desire's first commercial single.

"There's an element of obvious patience, but that's just who I am," Monch explained. "I've learned that it was best for me to wait for the best situation. Everything happens for a reason. This is my expression and creation. I know people are waiting for this album, and I respect my fans enough to put out quality music."