Paula Deen -- like the Phoenix -- is rising again ... thanks to a $75 MILLION infusion of cash from a Phoenix-based investment company that could put Paula's wares in the back pocket of airplane seats.
Jahm Najafi clearly thinks the Paula Deen brand is still a marketable commodity, because his company is fronting the cash.
As for Najafi's plan ... we found it extremely interesting that in 2012 he bought SkyMall magazine ... which you've probably leafed through and then failed to buy anything from inside. So the question -- will Paula's pots and pans end up in the mag?
As you know ... Paula was unceremoniously dumped by virtually all of her sponsors after confessing she used the N word to describe a person who robbed the bank she was a teller at in the 80s.
By the way ... in addition to SkyMall, Najafi owns the Book of the Month Club and Columbia House.