Crystal Palace administrator Brendan Guilfoyle has dismissed reports of P Diddy buying the club.

Reports on Thursday claimed P Diddy, aka Puff Daddy and real name Sean Combs, was ready to rescue Palace while his publicity machine did little to dampen speculation the music and fashion mogul is keen to invest in English 'soccer'.

But Guilfoyle insisted he has heard nothing from the Bad Boys Inc president although he left the door open to an approach.

"There is no truth in it whatsoever, I wish," said Guilfoyle. "I am a big hip-hop fan and I would be delighted if P Diddy wanted to buy Crystal Palace. I would welcome an approach and would willingly fly to New York to discuss purchase."