Diddy‘s downfall continues!
The Hip-Hop mogul has lost his ownership of Cîroc and DeLeón tequila in a recent settlement with premium drink company Diageo.
Following Cassie’s sex abuse allegations against her ex, Sean “Diddy” Combs, more victims came forward with their own revelations against the music executive.
This forced Diddy’s long-standing business partner, Diageo, to take actions. The abuse allegations gave DeLeón the leverage to attempt to block the mogul’s request for an injunction granting him a $15 million marketing budget for DeLeón.
Now, both parties issued a joint statement. As a part of the settlement, Diddy had to withdraw all previous allegations and dismiss his lawsuits claiming the company acted with prejudice against him.
“Sean Combs and Diageo have now agreed to resolve all disputes between them,” the two sides released in a joint public statement. “Mr. Combs has withdrawn all of his allegations about Diageo and will voluntarily dismiss his lawsuits against Diageo with prejudice. Diageo and Mr. Combs have no ongoing business relationship, either with respect to Cîroc vodka or DeLeón tequila, which Diageo now solely owns.”
Combs’ ties to the spirits maker date back to 2007 when the company and the rapper partnered as co-owners of Ciroc. Diageo then purchased DeLeón in 2014.
Financial terms of the settlement were not disclosed – but Diddy is no longer an owner or partner in either Ciroc or DeLeon anymore.