Early in June, Diddy recruited Busta Rhymes to join his latest crew -- the Supreme Team -- which already consisted of members Fabolous, Red Cafe, Rick Ross and DJ Khaled. But during an interview with UK journalist Tim Westwood last week, Diddy revealed that he had plans to change the name of the group.

On Friday, Diddy made the official announcement about the group's name change on Twitter, explaining that the "Supreme Team" was already taken. "Due to another group owning the name supreme team, in efforts not to hurt their business we have decided to change out name to the Dream Team," he wrote.

The Dream Team has not revealed any plans for a group album in the near future, but individual members are all slated to release solo projects within the next few months. Busta Rhymes is currently at work on sequel to his 1998 album 'E.L.E. (Extinction Level Event): The Final World Front.' 'E.L.E. 2' is expected to see a July release, along with 'Last Train to Paris' from Diddy and 'Teflon Don' from Rick Ross.