Sean "Diddy" Combs has already played a part in the update of one urban cult classic tackling the role of a young Nicky Barnes in the film, Carlito's Way:Rise To Power. Now, Puff is reportedly working with Oscar-winning producer/director Brain Grazer for a remake of the 1990 urban thriller King of New York, reports Page Six.

The original film, starring Christopher Walken, Laurence Fishburne and Wesley Snipes, tells the story of Frank White (sound familiar?) played by Walken who is a former drug deal who gets out of the pen and goes right back to work ruling with an iron fist while giving back to the community. According to Grazer, this is a project Combs has had his eye on for some time now, and the mogul plans on starring in the film as well. “Sean optioned the rights to remake King of New York for two years," said Grazer. "The film is a cult classic, and it will be great to remake it. Our version won’t be exactly the same, but will have the same hard-core gangster feel. Sean wants to be in it, he was amazing in Monster’s Ball, and such strong characters sit perfectly with him.”

Production on the film could start as soon as next year.

[via PageSix]