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When Dirty Money appeared on BET's 106 & Park on Thursday, they also brought with them Red Cafe, Aasim and Rick Ross. With Ross on hand, Diddy finally confirmed that the rapper had entered into a management deal with him and James Cruz, as Billboard reported back in April.

"We decided to forge a positive partnership," he told hosts Rocsi and Terrence J. "It's a management situation, but it's not the regular management situation. It's a partnership, it's a brand management situation where I'm able to do my thing as a brand manager. He's able to add in his ideas and we're able to grow together and he also helps me out with my music, so it's like a two way street man and it's a great thing. So, it is official. He is managed by Gucci, myself and James Cruz."

"Everybody we rocking with, they are brands," he continued, when asked what he looks for in an artist when considering this type of relationship. "We gonna keep it boutique. It's not a lot of people we're going to manage. It's more like a brand management agency, then it is just artist management."

Finally, he was also asked about Nicki Minaj and he declined to confirm or deny that he would be taking on similar duties for her, as well.

"The only announcement that we can confirm today is the Rick Ross announcement," Diddy said. "But, we will be making a lot of announcements in the future."

Congrats to Diddy, Rick Ross and Mr. Cruz. That said, it's a shame that Diddy felt the need to tell fans not to believe the "rumors" just 9 days before the appearance on BET's 106 & Park, saying "there's no management announcements or none of that," even after Ross has seemingly confirmed them himself. This sort of thing breeds distrust with fans.

It's understandable that one would like to announce news on their own time, but that's not always how it works out. And once it's out there, it's better to simply decline comment, as opposed to criticizing responsible outlets that have broken the story.