Tom Petty speaks out about "the Sam Smith thing"

It's all good between Tom Petty and Sam Smith.

Earlier this week, word got out that last fall the two musicians had settled out of court on a copyright case involving Smith's hit "Stay With Me" and Petty's 1989 single "I Won't Back Down," co-written by Jeff Lynne of Electric Light Orchestra fame.

A rep for the British singer said that the likeness between the two tracks "was a complete coincidence" and that "all involved came to an immediate and amicable agreement" on the matter.

Now Petty has released a statement on his website reiterating those sentiments:

"About the Sam Smith thing. Let me say I have never had any hard feelings toward Sam. All my years of songwriting have shown me these things can happen. Most times you catch it before it gets out the studio door but in this case it got by. Sam's people were very understanding of our predicament and we easily came to an agreement. The word lawsuit was never even said and was never my intention. And no more was to be said about it. How it got out to the press is beyond Sam or myself. Sam did the right thing and I have thought no more about this. A musical accident no more no less. In these times we live in this is hardly news. I wish Sam all the best for his ongoing career. Peace and love to all."

Smith is now giving 12.5 percent of the royalties from the ballad to Lynne and Petty, reports Rolling Stone.

"Stay With Me" appears on Smith's debut album, "In the Lonely Hour." It's up for both best pop solo performance and record of the year at the 2015 Grammys. Smith will also perform at the show.

"I Won't Back Down" appeared on "Full Moon Fever," which also featured the singles "A Face in the Crowd," "Free Fallin'" and "Runnin' Down a Dream."

Listen to both tracks below: