AceShowbiz - Sean "Diddy" Combs has issued a fresh plea to "American Idol" bosses to hire him as a replacement for Simon Cowell - he's offered to take a five per cent pay cut on the music mogul's massive salary. The hip-hop star has previously insisted he is the perfect choice to take over from the outspoken Brit, now he has quit his role on the show's judging panel to bring his U.K. talent show "The X Factor" Stateside.

And P. Diddy is now talking money, revealing he would gladly accept a reduced pay packet to join the series. He tells Britain's GMTV, "As a matter of fact I have a new negotiation, I would take a five per cent cut on what he was getting. He was on something like $34 million, and that's peanuts."

Previously, P. Diddy said he hasn't given up his dream to own a soccer club. "If the right situation comes my way and it's appealing and we can make the right splash and most importantly build the right team and win... I'm into winning and if it's the right situation then I'm open to it," he said.