Why MVP and not UFC? Fans and analysts alike have questioned why ex-UFC star Nate Diaz would return to the cage under Jake Paul’s MVP promotion after retiring from MMA. The Stockton native has stayed away from the sport for almost four years now, since leaving the UFC in 2022. Now, on May 16, he will step into the cage against former UFC star Mike Perry in a five-round welterweight battle on the undercard of Rousey vs. Carano in LA. Still, many continue to push for his UFC return, and now he has finally addressed it.

During a recent appearance on comedian Theo Von’s podcast, Nate Diaz revealed some behind-the-scenes details. He revealed that Dana White and the UFC actually offered him a more lucrative deal than MVP, but he ultimately turned it down because the promotion didn’t offer the level of opponents he wanted.

“I wanna go back to the UFC,” Nate Diaz told Theo. “I had bigger offers from the UFC than I got from these guys [MVP]. But the opponents weren’t the right opponents at the moment, and I believe everything in this fight game is timing.

“I think that if I went to the UFC, I wouldn’t have been fighting the fighters that I want to be fighting. I want to fight the best of the best. And if I am not gonna get that, then I am gonna find the biggest and the best I can.”

retired from MMA after completing his UFC contract with a win over Tony Ferguson in 2022. Since then, he has transitioned into boxing, facing names like Jake Paul and Jorge Masvidal, compiling a 1-1 record while continuing to generate major revenue outside of the UFC.

At present, the Stockton native does not see any UFC opponents (likely in the welterweight division) who can match his star power. Fighters like Islam Makhachev, Carlos Prates, and Michael Morales currently dominate the welterweight divisions. However, Diaz appears unconvinced that any of them present the kind of high-profile matchup he’s seeking, prompting him to walk away from the UFC’s offer.

Over the past few years, rumors circulated that the UFC and Nate Diaz were negotiating a new deal. In fact, even this month, veteran journalist Ariel Helwani reported that the UFC showed “interest” in bringing Nate Diaz back. However, Diaz declined the offer because the UFC abandoned the PPV system and moved to Paramount+ streaming, which limited his chance to earn additional revenue.

Historically, Diaz has been one of the UFC’s biggest draws, particularly through his rivalry with Conor McGregor, with their two fights garnering close to 3 million PPV buys combined. With the promotion moving away from that model, Diaz has opted to explore opportunities elsewhere. Notably, he isn’t alone.

Ronda Rousey also declined a UFC return and instead joined MVP to face Gina Carano, while openly criticizing the new broadcast structure.

Despite the 40-year-old’s decision to go with Jake Paul’s MVP, White has maintained there is no bad blood, recently stating that he is “happy” for the Stockton native. In the same interview, Diaz also revealed that the UFC offered him a trilogy fight with Conor McGregor, an opportunity he chose to pass on.

Nate Diaz opens up on passing the trilogy bout with Conor McGregor

During the same interview, Diaz explained that timing once again played a role in his decision to decline the third fight.

“They want me to fight Conor McGregor right now,” Diaz said. “For me, Conor McGregor just—pull up his record, do we got his record? I know this, but I’m thinking about it, I’m like, Conor McGregor just—f–king lost to [Dustin] Poirier. He got knocked out on his a–… so Poirier knocks his a– out and then he breaks his leg, which is horrible… And then he gets his leg broken… We’re adversaries, but I’m like, ‘Bro, you broke your whole s–t.’ I don’t wish that on nobody.

“I go back to talk to the (UFC) about it and they’re all ready for me to come back and fight Conor. I’m like, ‘Whoa, whoa, whoa, listen to what I’m talking about.’ I want to fight the best of the best when they are the best of the best. Conor’s great, but I’m not trying to go kill off Conor when he’s on his last dying f–king leg, literally. That’s f–ked up. I’m not trying to be the ending to some f–ker’s story like that.”

Right now, Nate Diaz hasn’t completely ruled out a fight with Conor McGregor. He just wants McGregor to get back in action first with a win, since the Irishman has been away from the sport since 2021. After that, Diaz plans to face him for the BMF belt if the UFC allows it.

Meanwhile, rumors continue to swirl about McGregor’s return, with talk of a possible clash against the reigning BMF champion, Charles Oliveira. Whether that materializes or eventually leads back to Nate Diaz remains one of the sport’s biggest unanswered questions.