Diddy to buy F1 team?

Is Diddy planning to buy a Formula 1 team? Apparently so.

The rapper made the announcement to guests at a dinner to launch his new perfume, Unforgiven. “It seemed to be more than bravado on his part,” reports one guest, adding that Diddy had previously spent much of the evening huddled in a corner with Lewis Hamilton, the youthful British racing star. Still, Diddy is known for being an impulsive chap. Pink-and-gold pimpmobiles may indeed roar around Silverstone. Alternatively, he may end up with a bling Scalextric.

The dinner was at Fifty on St James's Street. According to the restaurant's PR, it cost £150,000, with £100,000 spent on champagne alone.

That's what happens when you spray it around the room.

What this means to you: It’s all about the Benjamins, baby. What’s next: Bernie Ecclestone in an episode of Pimp My Ride?