According to ESPN The Magazine, Fedor Emelianenko is in the process of separating from M-1, and his people are open to re-opening negotiations with The UFC:
Now it could. Apy Echteld, one of Emelianenko's agents, confirmed what a source close to the situation previously told The Magazine: M-1 Global and Emelianenko will part ways some time in the next week, making the Russian a free agent. Divorce negotiations are ongoing right now, with a formal announcement likely for in the next few days. "Officially, yes, Fedor will be a free agent," Echteld says.
Of course, the UFC would have to be willing to re-open negotiations with Emelianenko's management. Previous talks dragged on for almost a year before falling apart amid plenty of name-calling and finger-pointing from both sides. UFC president Dana White was vocal in pinning the blame on Emelianenko's team, saying he never once spoke or met with the fighter. Would the head of the UFC be willing to enter the Fedor fray again? "Absolutely, 100 percent, in a heartbeat," says White. "People think he's the best--I don't, not even close. But if it's somehow possible, I would make it happen."
Update [2008-3-6 19:30:57 by Kid Nate]:
Of course, Dana can't help himself and has to throw in this remark: