American hip-hop mogul P Diddy, real name Sean Combs, is weighing up an offer for struggling south London football club Crystal Palace. The multi award-winning rapper and producer has a vast personal fortune estimated to be around £360 million, following a succession of hit records and a string of entrepreneurial spin-offs including a record label, clothing line, restaurants and acting roles.

However the 40 year-old New Yorker has apparently now declared his interest in adding soccer to that already extensive list and is looking at a couple of different options, including Premier League side Portsmouth who, like Crystal Palace, were recently placed in administration.

However for some reason it seems like the idea of Crystal Palace seems to be more attractive to Diddy, despite the fact that the bankrupt club is in chaos and facing relegation from the Coca-Cola Championship after having ten points docked for going into administration.

“Diddy was in London meeting football fixers a couple of weeks ago,” confirmed a source close to the New York superstar last night

“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.

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

While former owner Crystal Palace owner Simon Jordan was no rapper, he certainly wasn’t a stranger to the jet-set lifestyle so the fans will be used to the idea of flamboyant playboy owners who like a drop of bubbly.

Whether P Diddy will insist that the club’s name is changed to Cristal Palace – after the extravagant champagne popular in bling bling world – has yet to be confirmed, as have rumours regarding Snoop Dogg’s interest in Swindon Town.