P. Diddy to buy Palace

P. Diddy is reportedly in negotiations to buy struggling London soccer team Crystal Palace

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P. Diddy

P. Diddy to buy Palace

P. Diddy is planning to buy a British soccer team.

The multi-millionaire rapper is reportedly making moves to invest in struggling London club Crystal Palace - which is currently facing bankruptcy and had 10 league points deducted after going into administration - but is also looking at other sports teams in need of a major cash injection.

A source told The Sun newspaper: "Diddy was in London meeting football fixers a couple of weeks ago. The finance is in place, he's just deciding who he thinks he'll make a bid for.

"Portsmouth - who are also in severe debt - were mentioned but he thought Palace were a better idea.

"He could cover their debt and bankroll a return to the Premier League. He liked the name as well."

A spokesperson for the star - real name Sean Combs - confirmed he is looking to invest in a soccer team, but did not confirm if the Coca-Cola Championship side were his current favourite.

The 40-year-old star - who is thought to be worth almost $550 million - recently showed he is happy to splash the cash on a night out in London.

The hip-hop star amazed revellers at London's Runway club by having the DJ play a 30-minute set of his songs to signal his arrival and then insisted on having his own Sean John fragrance sprayed into the room every 20 minutes.

A source said: "All eyes were on Diddy. You could smell him coming a mile off. It was as if a king had arrived in the building - but you could hardly see him under all that mist from the perfume.

"His songs were played back-to-back for 30 minutes for his grand entrance. Girls were throwing themselves at him - it was wild."

According to onlookers, the rap star insisted on only drinking Ciroc, the upmarket brand of vodka he endorses, and continued partying right through the night.

Puff Daddy

Hip hop and rap by the New York-based Sean Combs.

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