It seemed well beyond rumor that Diddy was back in the management game and had picked up two of hip-hop's most commercially-viable clients -- Rick Ross and Nicki Minaj. Rick Ross even confirmed the deal in a recent announcement. Yet last night Diddy got on UStream to set the record straight and end the speculation. No, he's not managing anyone. They're just friends. He swears.

"For the record, as I said before, don't believe the rumors," said Diddy. "I cannot, you know, I have not made no announcement yet. Don't believe no rumors about anything y'all hear. Me and Nick, we just cool. I like her style. Rick Ross, it's my brother. There's no management announcements or none of that. So, everybody just worry about what y'all worryin' about... It's alright for people to know each other and have an admiration towards each other and maybe pick each other's brains for advice. I will be making some big announcements in a couple of weeks on some things, though."

These recent comments make Ross' open confirmation all the more puzzling. Interesting also is that rapper Fabolous sits in the background of Diddy's UStream video looking like he took a grip of peyote. Was Diddy's rejection of these management reports just his way to make an announcement on his own watch? We wouldn't put it past him, but for now, Diddy is not managing Rick Ross and Nicki Minaj and wants you to mind your own business until he says so.

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