March 22, 2010, (Pen Men at Work): The American hip-hop star P Diddy is reportedly buying out the Southeast London Club, Crystal Palace. P Diddy, whose real name is Sean Combs has placed a £360 million bid for the club.

There is certainly no hint of recession as the ‘Diddy’ is forking out cash like there is no second chance! Soccer, or as the English call it, football, is his current addiction and he loves the sport to such a degree that he is planning to buy out an entire team, Crystal Palace.

Reports suggest that ‘Diddy’ visited London a few weeks ago and met up with a few agents to chalk out the team. Although his finances are in place, he still has to take a final call on which team to buy. The other team in consideration is Portsmouth, as they are also severely in debt but the rapper seems to be more inclined towards the London club. He plans on paying off their debt and support their return to the Premier League.

A spokesperson for Sean Combs has agreed to the reports and has confirmed Sean’s intentions of buying a club, but has not revealed which club or where. The singer has an estimated $550 million estate, and is certainly financially sound of taking over the said clubs.

Some Crystal Palace fan blogs have witnessed a sudden rise in activity and are pushing for the nickname of the club to be changed from ‘The Eagles’ to ‘The Diddymen’!