Quote Originally Posted by Board of Command
Third "pirate lord" is Blackbeard (aka Walter Teach). We've seen him already.
I don't think so. Blackbeard was one of Whitebeards subortinates until only a little while ago according to Ace.

Also, Blackbeard is trying to become one of the Sea Lords. Why would he do that if he was a Pirate Lord? It's almost like a demotion.