From web editor John Joe O'Regan:
Both sides have been in negotiations on a new deal for some time but a source tells Fighters Only that he and Bellator and "miles apart" on the value of a new contract.
The source says that the tone has "soured" recently and that a resolution now seems all but impossible, with the respective parties adamant that they cannot move from their stated positions.
Alvarez (22-3, 6-1 Bellator) had a seven fight win streak snapped and his 155-pound title taken by Michael Chandler last November in one of the year's best fights. However, he was oddly left out of the brackets for the impending lightweight tournament with promotion head Bjorn Rebney saying it wasn't the right move at the time. The 28-year-old is one of the promotion's highest paid fighters and most recognizable stars.
In a recent interview with Heavy MMA, Alvarez addressed his contract situation.
"I still have eight or nine months left on my contract with Bellator or one or two fights," Alvarez said. "I’m waiting to finalize things, but I believe we are going to be doing the fight with Shinya Aoki. That would be on April 20, but we just received the contracts and we are looking them over. Nothing is 100 percent right now, but that is what we are aiming to do."
Without a title, there's no championship clause to keep him in the promotion if he wants to leave for either the UFC or a much-discussed fight with Strikeforce Lightweight Champion Gilbert Melendez as a tantalizing possibility.
Bloody Elbow reported that Alvarez vs. Shinya Aoki II was a go for April 20 but as Alvarez said above, no official announcement has been made yet. It's important to note that he recently changed management, going with growing powerhouse Authentic Sports Management that boasts a roster that includes Rashad Evans, Miguel Torres, Matt Mitrione, Melvin Guillard and more.