P Diddy is planning to buy Crystal Palace football club, which went into administration in January, Gigwise can confirm.
The rapper is understood to be preparing a £360million offer for the struggling Championship side.
The London-based club are currently languishing near the bottom of the table after they were automatically docked 10 points for going into administration.
According to The Sun, P Diddy was also considering making an offer for Portsmouth, but chose the Eagles because he liked their name.
"Diddy was in London meeting football fixers a couple of weeks ago,” a source said.
“The finance is in place, he's just deciding who he thinks he'll make a bid for.”
The source added: "He could cover their debt and bankroll a return to the Premier League.”
A spokesperson for P Diddy confirmed to Gigwise that the rapper was in the market for Palace and was also looking into another club.
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