Bay Area rapper J-Diggs is the new owner of Floyd Mayweather’s Las Vegas-based Philthy Rich recording studio.

J-Diggs, President of Thizz Entertainment and producer Brian Dobbs p.k.a. Wino, have acquired ownership of the space, which has been renamed 702 Studios.

The pair are currently renovating the studio and preparing for the launch of their new business.

“I’ve had my own label for a long time and now adding this studio which already has a great reputation in these parts just adds to the empire we’re building over here,” J-Diggs, President of Thizz Entertainment Said.

J-Diggs, Brian Dobbs and 702 Studios will host a launch party on January 1.