The Weinstein Company announced that they have added Diddy as an executive producer on "Undefeated," a documentary about a football team in northern Memphis and the coach who "guides them through a rough, yet rewarding, football season."

The film has already been nominated for a 2012 Academy Award for Best Documentary Feature and will open in limited release on February 17.

Perhaps more importantly, Diddy will also serve as an executive producer on the planned feature film remake of "Undefeated."

"I am excited to partner with Harvey Weinstein on this incredible project," said Diddy. "'Undefeated' is a great American story with a lot of heart and soul. It had a profound effect on me and I couldn't get it out of my mind when I saw it. There is so much truth and so much hope in this film and I feel passionately that everyone who sees it will be inspired."

"There's a moment in 'Undefeated' when the coach tells the players, 'Football doesn't build character – football reveals character.' I think that's one of the reasons football is so important to me. But, that line could just as easily apply to 'Undefeated' itself. In telling the story of a football team, this film says so much about individuals, about community and about our country. I'm so proud of 'Undefeated' and we feel very fortunate to have Sean on board to bring this story to audiences now and in the future."