P.Diddy to Buy British Soccer Team?

The recession clearly didn't put a dent in P. Diddy's pocket because he's still spending like its going out of style.

Diddy's latest infatuation is Soccer, and he loves the sport so much, he's considering buying an entire team.

“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 told British newspaper The Sun.

“Portsmouth — who are also in severe debt — 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.”

A spokesperson for Diddy confirmed he's looking to invest in a soccer team, wouldn't reveal any further details.

With an estimated worth of $550 million dollars, he can clearly buy almost anything he wants. Must be nice to be Diddy.