Diddy Says He's Buying The Panthers For Black America

Diddy says he's 100% serious about buying the Carolina Panthers, and the reason he's doing it couldn't be more important ... 'cause he says it's all to inspire and empower black America.

Puff sat down with the crew on "The Breakfast Club" when he was asked if there were any updates on his efforts to purchase the squad.

Diddy made it clear it's totally real -- he's putting an investment group together -- and told everyone why he thought it was important for the black community to have NFL ownership.

"It was never about me buying the Panthers, it was always about we. It was always about we need a team. I jumped out there to make sure that they understood that they have to consider some black ownership right now with 80%, 70% of the league being African-American. It's just time."

Diddy goes on to say he gets why some people think he won't be able to do it ... there's a lot of yellow tape -- but it's clear he doesn't think anyone can stop him.