Nate Diaz vs. Conor McGregor II targeted for UFC 202

A highly anticipated welterweight rematch between Nate Diaz and current UFC featherweight champion Conor McGregor is in the works for UFC 202 later this summer, according to a report from MMAFighting.com.

After Diaz pulled off the shocking upset in his first meeting with McGregor in the main event of UFC 196 this past March, UFC matchmakers booked the rematch for the headliner of UFC 200. But the Irishman was later pulled from the landmark event for refusing to do promotional work. Diaz was not interested in fighting a replacement at UFC 200.

After meeting with both McGregor and Diaz last month, it appears all parties have finally agreed on an event, date and location -- and most importantly for the pair of fighters, purse amounts.

Prior to his first UFC loss earlier this year, McGregor (19-3) captured the 145-pound title at UFC 194 last December when he knocked out longtime champ Jose Aldo in 13-seconds. He was supposed to fight the Brazilian last summer, but instead defeated Chad Mendes for the interim strap.

McGregor was supposed to fight lightweight champion Rafael dos Anjos earlier this year in hopes of becoming the first UFC fighter to hold two titles at the same time, but dos Anjos was forced out of the super-fight with an injury, which led to the non-title welterweight meeting with Diaz.

Prior to his win over McGregor, Diaz (19-10) returned to action at UFC on FOX 17 last December and picked up a unanimous decision win over top lightweight contender Michael Johnson. He had been out-of-action for a year prior to the Johnson win.

UFC 202 is expected to take place in Las Vegas on Aug. 20.