David, 61, said: ‘A catalogue musical, we are always looking at it. I haven’t found anything yet that really covers… I think if we wanted to do it, we would want to do it in a way that was really innovative and really exciting and different.

Sir Elton John next career move is revealed after he retired from touring last year as his husband David Furnish also gave a health update on the legendary musician after a knee replacement in January

The Rocket Man hitmaker, 76, who played his final shows last summer, is looking into his own stage show which would include hits like Your Song, Candle In The Wind and Tiny Dancer, The Sun has reported

‘We’re open to any great ideas and it’s a wonderful catalogue. But at the moment, with the two other musicals, we’re quite busy as it is.’

Elton has a busy year ahead, as his Devil Wears Prada show is set to launch in Plymouth in July, followed by his musical Tammy Faye, about the televangelist Tammy Faye Bakker, which is heading to Broadway later this year.

Elton struggled to walk the red carpet at his own event after he underwent a knee replacement in January.

Giving an update on his health, David revealed Elton will be undergoing a replacement on the other knee in a couple of weeks so that he is all fit for the summer.

He explained: ‘He’s doing amazing. He’s having another knee done in a couple of weeks and by the time the summer rolls around, he’ll have two brand new spanking knees.

‘I think you’ll see him breakdancing down the carpet next year.’

Some of the world’s biggest stars descended on the glitzy event to watch the 96th Academy Awards unfold on Sunday, and the event raised a record £8.4million.

The music legend performed a medley of his greatest hits after mingling with the stars in attendance including Elizabeth Hurley, Heidi Klum and Julia Fox.

David, 61, said: ‘ A catalogue musical, we are always looking at it. I haven’t found anything yet that really covers… I think if we wanted to do it, we would want to do it in a way that was really innovative and really exciting and different’

Giving an update on his health, David revealed Elton will be undergoing a replacement on the other knee in a couple of weeks so that he is all fit for the summer

The music legend was spotting mingling with stars Elizabeth Hurley and her son Damian at his annual charity bash

Elton retired from touring in the summer after a final farewell show at Glastonbury

The viewing party supports ‘the Elton John AIDS Foundation and our essential efforts in reaching marginalised communities who are affected by HIV/AIDS,’ according to the foundation’s website.

This year’s bash was hosted by Elton, David, Tiffany Haddish, Neil Patrick Harris and his husband David Burtka.

Speaking ahead of the event, Elton said: ‘As a father and an AIDS advocate for over three decades, I want to see my sons grow up in a world where AIDS, and the stigma and inequality that drives it, are history.

‘Everyone deserves to live a healthy life, free from violence and discrimination. I’m so grateful to my big-hearted friends Neil Patrick Harris, David Burtka and Tiffany Haddish, and one of my favorite fresh acts, Gabriels, for stepping up to help us raise funds at this year’s Oscar party to further my foundation’s mission.’

His husband David added: ‘The Oscar party is the foundation biggest night of the year, and I am thrilled to carry on Elton and my tradition of co-hosting with such dear friends.’