Hip-Hip mogul Diddy has come forward and straightened out recent rumors that say he is managing the careers of rappers Rick Ross and Nicki Minaj. Taking to UStream, Diddy denied the reports, and downplayed his involvement in the both, Ross and Minaj’s careers.

“For the record, as I said before, don’t believe the rumors,” he said. “I cannot, you know, I have not made no announcement yet. Don’t believe no rumors about anything y’all hear. Me and Nick, we just cool. I like her style. Rick Ross, it’s my brother. There’s no management announcements or none of that…It’s alright for people to know each other and have an admiration towards each other and maybe pick each other’s brains for advice.”

Rumors surrounding Diddy and Minaj started almost immediately after the femcee fired her former manager, Debra Antney of Mizay Entertainment, late last month. Ross insinuated during a past interview with MTV News that he had some upcoming announcements to make involving new business moves while talking about his relationship with Diddy, leading some to believe that he too was going to be working with the Bad Boy label head.

Even though he laid these speculations to rest, new ones are sure to arise soon, as in the video footage, Diddy also said: “I will be making some big announcements in a couple of weeks on some things, though.”

Peep the video from the UStream session below: