Don McLean is tipping his hat to Taylor Swift after the 31-year-old pop superstar broke the record that the veteran singer-songwriter set on the Billboard Hot 100 almost 50 years ago.

Since 1972, Don's eight-minute, 34-second classic "American Pie (Parts I & II)" held the title for the lengthiest song to hit number one.  Well, that longstanding record was broken this week when Taylor's 10-minute, 13-second song "All Too Well" bowed atop the Hot 100.

"There is something to be said for a great song that has staying power," 76-year-old McLean said in a statement to ABC Audio. "'American Pie' remained on top for 50 years and now Taylor Swift has unseated such a historic piece of artistry. Let's face it, nobody ever wants to lose that #1 spot, but if I had to lose it to somebody, I sure am glad it was another great singer/songwriter such as Taylor."

Taylor's 10-minute-plus recording of "All Too Well" is featured as a bonus track on Red (Taylor's Version), which she released on November 12.

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