In October, Eddie Alvarez completed his contracted fights with Bellator. In December, the UFC made him an offer:
•A $250,000 signing bonus;
•A $70,000 fight purse with a $70,000 win bonus for his first fight:
•Salaries escalating over the life of the deal;
•Ccontract was to cover a span of 40 months or eight fights, whichever occurred earlier.
However, Bellator exercised their option to match the offer.
Alvarez appeared recently on The MMA Hour recently and said contract negotiations with Bellator had gone off a cliff - he was being sued.
In an interview with MMAFIghting's Mike Chiapetta, Rebney explained his reasoning.
"I will tell you point blank, no questions asked, we matched it dollar for dollar, term for term and section for section," Rebney said. "To avoid any kind of ambiguity, let me make clear, we took the UFC contract, we took it out of the PDF format, we changed the name 'UFC' to 'Bellator' and we signed it. We didn't alter a word, we didn't alter a phrase, we didn't alter a section, we didn't alter a dollar figure."
Then how can it be that such a discrepancy between the two sides would arise? As far as Rebney can tell, Alvarez's issue comes from the projected dollar figures he could earn from the UFC's pay-per-view bonus structure.
"Could" is the operative word there, as according to Rebney, that pay-per-view money in the UFC offer to Alvarez is nothing more than a hypothetical.
"There is no guaranteed pay-per-view in the UFC offer to Eddie Alvarez," he says emphatically. "We as Bellator don't have to match projections. We don't have to match what could conceptually happen. We have to match guaranteed dollars and what the UFC contractually guaranteed would occur. That is what we are held to."
Despite that, Rebney said that Alvarez's pay-per-view stake was matched anyway, under the belief that Bellator could move into the pay-per-view market with the right fight, for example, a rematch of the notable 2011 bout between Alvarez and Michael Chandler.
"We have a quarter-of-a-million dollar check sitting and waiting to be sent to Ed and are ready to be scheduling bouts immediately," Rebney said.
"Ed and I have four years of a good working relationship and about 30 days of not a good relationship. When you weigh those factors out, there's a very high likelihood we could shake hands and get past it with a fair amount of ease. Ed's in business and as you can see from the numbers, it can be a very lucrative business. I know I can shove off and move forward, put things back in line in short order. I hope Ed can do the same. It may be a long, drawn out fight between the two or something that can be settled relatively quickly. We'll see."
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