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One Direction is sitting on a completed brand new album, according to friend and frequent collaborator Ed Sheeran. 

The Grammy-nominated singer-songwriter tells "MTV News" the British boy band's new album is "already finished."  The group's Louis Tomlinson recently announced their plans to release it later this year. 

Sheeran, who contributed songs to One Direction's first two chart-toppers, says his work won't be appearing on the new one.  He says he's actually cut back on offering his material to other artists because he wants to focus on wrapping up an album of his own. 

One Direction's label Columbia, however, is contradicting Sheeran's update on the album.  A rep tells MTV the boys are "still very much working" on it.