Diddy is swooping in to save a foundering soccer team in the United Kingdom.
According to The Sun, the hip-hop mogul is putting in a bid to back the Crystal Palace Football Club. He plans to drop more than $550 million for a stake in the team, which has been docked 10 points in the Coca-Cola Championship. Crystal Palace is also facing bankruptcy.
Diddy’s UK spokesman also said that Bad Boy label head was thinking of investing in another soccer team as well.
"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,” a source said. "He could cover their debt and bankroll a return to the Premier League. He liked the name as well."
Crystal Palace is accustomed to international playboy owners with a flair for the fabulous. A man named Simon Jordan, who used to bankroll the team, also enjoyed the sweet life as he jetted all over the world.
— Sonya Eskridge