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Despite all of the rumors swirling around for the last two weeks, and the fact that Rick Ross himself confirmed it, Diddy says he is NOT managing Rick Ross or Nicki Minaj.

Diddy hopped on Ustream the other day with Fabolous and the latest signing to Bad Boy Records, Red Cafe (who just so happene to be holding a bottle of Diddy’s Ciroc Red Berry vodka) to dispel the rumors.

Of course, this contradicts what Rick Ross told MTV News just last week…

Is Rick Ross just blinded by having such a famous friend that he can ask for career advice, or is Diddy just waiting for the ink to dry on the contracts before he makes that big announcement next week?

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