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Diddy gave what is perhaps his most revealing answers about the situation with Mase tonight to Funkmaster Flex on Hot 97. Recently, he had discussed the possibility of Mase returning to Bad Boy. Then, in October, video surfaced that showed Mase supposedly bum-rushing Diddy during a radio show appearance and getting the Bad Boy CEO to sign a piece of paper. At the time, it was unclear what exactly this piece of paper was - but, Diddy says that Mase is now off of Bad Boy and is free to sign wherever he wants. He also went into detail about the financial issues between them.

Diddy: "[When Mase came back for "Welcome back"] that was the second big check. Everybody was wondering 'yo, what's going on? why ain't you letting him do the 50 thing?' We just had some unfinished business after the first one when he decided to become a pastor. He had decided to become a pastor after he had just got a big check."

"When you re-negotiate with somebody, usually there's a big advance involved, especially with a multi-platinum artist. Like a multi-million dollar advance. It's almost like a good faith loan. Like here's an advance on the work we about to put in. You sign for that and that means you're gonna get on the road, you gonna promote it, you gonna do the videos."

Flex: "So, it wasn't just one album?"

Diddy: "Definitely it was for a couple albums. When he decided to become a pastor, we were like 'OK.' We said that first check we had put out, we gonna take that [loss], we gonna give that to the Lord and God bless us. That's gonna be our tie. Then when came back on the "Welcome Back," the game started getting a little rough. It wasn't clicking for everybody right away. When it wasn't clicking right away, I think he decided 'well, let me go back to church.' But, the problem was he still had that check, which I had no pride to say 'we need to talk business.' As time went on, I was like, recently, let me just chalk that one up as an [loss]."

Flex: "So, you done took the two [losses], but then you can't take the two [losses] and then go someplace else. That can't happen."

Diddy: "Yeah, that's where I was at, but then also when he was starting to come out again, I was just like 'I'm so tired of taking Ls.' I've learnt with this one. Fool me once, fool me twice - you ain't fooling me three times. I was just like, 'check this out' ["I need to get some of this back" Flex]. Nah, I was just like you just got me, it's just part of the game. You got your freedom, you go do what you need to do because I don't want to end up in no trouble. I don't want to have no problems with nobody."

Flex: "So, he's not on the label right now?"

Diddy: "As of right now, he has his freedom to do whatever he wants to do."

Flex: "With no money and no nothing, you can go and sign with whoever you want to sign with?"

Diddy: "Yeah, just wish me luck. I just want him to wish me luck. I just want him, when he's in church, to say a prayer for me that I get some of that paper back, that's all I ask. Is that too much to ask New York?"

And there you have it. Mase is no longer on Bad Boy. Officially.