Plus band admit they didn't realise there was a cash prize

Mumford and Sons believe they have no chance of winning the 2010 Barclaycard Mercury Prize, which is announced tonight (September 7).

Speaking to NME in a video interview you can watch on the right, the band said they do not expect to be celebrating after the ceremony in London.

“How do I rate our chances? Nil or slim,” declared frontman Marcus Mumford. “We’re just going to have a nice time.”

The singer also admitted he previously didn’t realise that the award carries a £20,000 prize, and so suggested if the band did beat his prediction he would put the money “all on red”.

Watch the full interview on the right now, including who Mumford and Sons have bet on to win.

The Mercury Prize ceremony takes place tonight night in London. Learn more about this year’s nominees with NME’s who’s who guide to the 2010 Mercury Music Prize now, and follow all the action from the ceremony via news, video and blogs live on NME.COM tonight.