Diddy is a business man, that much we can’t deny. Puffy may now be trying to purchase a football club out of Europe… for the name:

The rapper has expressed an interest in London team Crystal Palace, which has been struggling with financial difficulties. club recently went into administration, which could see it demoted into a lower sports division as British soccer teams which go bankrupt are docked points.

Diddy’s representative has confirmed he wants to invest in a UK club, although he has also been linked to Portsmouth, in south England, which is desperately in need of a backer.

“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 were mentioned but he thought Palace were a better idea,” a source said. “He could cover their debt. He liked the name as well.”

The 40-year-old, real name Sean Combs, is said to be worth around £360 million. He is well known for flashing his cash, recently traveling to Britain from France to throw a £500,000 party to celebrate the release of his new album Last Train to Paris.

He is known to be a fan of expensive Cristal champagne, which costs over £100 a bottle.

Crystal Palace Football Club has been around since 1905. We don’t know if it a smart investment, but it isn’t very hard for things to go awry with English Football.