Bad Boy Records CEO Diddy has clarified his relationship with Rick Ross and said he has developed a partnership with the Def Jam artist.

According to Puff, their relationship is deeper than just management.

“We was in here one night, chopping it up, talking about these big plans,” Diddy said in a video. “Doing a partnership, not just a management, doing a partnership and I’m proud to announce that partnership. And he goes by the name of Ro-se, Ricky Ross, the Teflon Don. We’re gonna get a lot of money this year, you know, we see eye to eye. We got the same taste. We like fly things. He likes green. We like gold…” (Spliff TV)

Earlier this month, Diddy denied claims of managing both Ross and female rapper Nicki Minaj.

“For the record, as I said before, don’t believe the rumors,”Diddy said on a UStream broadcast. “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, he’s my brother. There’s no management announcements or none of that. So everybody, worry about what you’re worrying about. It’s all right for people to know each other and have an admiration towards each other and maybe pick each other’s brains for advice. I will be making an announcement in a couple of weeks on some things. But right now, everybody let’s chill out and be cool and stay focused on being positive…” (UStream)

In April, Ross alleged Diddy possessed priceless information as his manager.

“The experience and the knowledge that Diddy possesses is priceless,” Ross said in an interview. “The relationships that he’s accumulated over the last 20 years is priceless for a young artist such as myself. We developed a mutual friendship. We just stayed in contact. I was calling him for advice anyway. He was doing it for free…He was doing so many different things for me on that level..I expressed my interest in developing and designing my own clothing label. I expressed interest in branching off into liquor endorsements, book deals. I’ve yet to headline my own major tour yet, which I’ve never had a problem with, because I love the intimacy of clubs. I love when I can run in the club with 2,000 people in there, and I can look the majority of them in the eye and make sure they feel Rick Ross and understand what Rick Ross brings to the game.” (MTV)

A week prior, Ross confirmed making Diddy his new manager.

“Most definitely, we making a lot of big moves,” Ross told radiohost Ricky Smiley. “We making a lot of big moves, you know what I’m saying? Shout-out to Diddy, the Ciroc Boys. You know what I mean? We got a big announcement we gonna be making real soon. And we got a lot of big ventures we’re looking into so I’m excited. June 29th is the tentative date [for my album] we’re looking at right now. (“The Travis Smiley Show”)

Check out Diddy revealing his partnership with Rick Ross below: