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Sean 'Diddy' Combs Pays $7.5 Million to Buy Sean John Brand From Bankruptcy

Sean “Diddy” Combs
Sean “Diddy” CombsPhotographer: Gareth Cattermole/Getty Images

Sean “Diddy” Combs agreed to pay $7.5 million to buy back the bankrupt fashion brand he founded in 1998 after winning a court supervised auction.

“Seeing how streetwear has evolved to rewrite the rules of fashion and impact culture across categories, I’m ready to reclaim ownership of the brand, build a team of visionary designers and global partners to write the next chapter of Sean John’s legacy,” Combs said in an emailed statement.