WOW!!! This was the trick up Paul's sleeve.
EDIT: The times quickly killed the rumor,
"Correction: Coachella co-producers AEG Live have responded to this post. Brandon K. Phillips, CEO of AEG Live, writes in an email: “Paul Tollett, the head of our Goldenvoice division and our partner in the festival, just called to tell me that the LA Times put on their blog that Prince was playing Coachella. This is absolutely not true… Regardless of what the Times was told, there is no commitment from Prince to play Coachella.” Stay tuned…. this is the Purple One we’re talking about, so anything could happen."