No Diddy & Jermaine Dupri Verzuz Set Despite Viral Busta Rhymes Video

Diddy was recently caught in 4K strategizing his upcoming Verzuz battle against Jermaine Dupri and turns out it was just that ... STRATEGY, as no such event has been finalized or confirmed, TMZ Hip Hop has learned.

The Bad Boy Records mogul was chatting it up backstage with Busta Rhymes and Fabolous in Miami on Friday for a special AMEX event ... when he began to speak on his Verzuz wishlist to have the face-off with JD in his backyard of Madison Square Garden in September.

Diddy then leaned over to Busta with hopes of having him pull an outlandish stunt by leaping from the rafters. The irony he told Busta this as their classic collab "Victory" was blaring in the background shouldn't be lost on anyone!!!

The internet ran with the autumn date, these guys have been dangling the carrot to fans for over a year ... but multiple sources connected to the situation relay to TMZ Hip Hop that no Verzuz has been scheduled for now or in the future.

The clip of Diddy speaking to Busta and Fab also appears to be taken out of context as the convo began midway. Which is why it pays not to take everything you see on the internet for face value, kids!!!