Conor McGregor disclosed Tuesday that he has two fights remaining on his UFC contract, scheduled for April 26 against Max Holloway at UFC 329 and a second bout later this year, structuring his exit from the promotion that made him a nine-figure asset. He also claimed that welterweight boxing champion Terence Crawford rejected a $200 million offer to cross into mixed martial arts, a figure that would have matched the largest guaranteed purse in combat sports history and suggests someone with capital believed the spectacle worth underwriting.
McGregor returns April 26 after three years away from competition, the longest absence of his UFC tenure. The Holloway rematch closes a loop: their 2013 featherweight fight was McGregor's second UFC appearance, a decision win that prefigured his ascent to simultaneous two-division champion and the promotion's first athlete to command equity-style leverage. The second fight remains unannounced but McGregor indicated a summer or fall window, likely at welterweight or a catchweight designed to maximize pay-per-view yield without the dehydration theatre of 155 pounds. UFC has not confirmed the contract details, but two fights aligns with the standard renewal McGregor signed in 2021, a structure that gives the promotion exactly enough runway to sell him twice more before he tests free agency or pivots to non-fighting income.
The Crawford disclosure is the headline underneath the headline. A $200 million guarantee to fight once in MMA would position Crawford ahead of the $180 million combined purses from his Errol Spence Jr. boxing match, and it frames how much clearing power McGregor still generates even in semi-retirement. Crawford, 37, holds unified welterweight titles and operates at the top of boxing's pound-for-pound conversation, but his response suggests he sees MMA as a reputational markdown rather than a payday upgrade. The offer's structure is unknown—whether it included live gates, pay-per-view points, or Middle Eastern sovereign backing of the kind that financed Jake Paul's recent Saudi events—but the number itself is a marker. Someone ran the model and believed a Crawford-McGregor fight, or Crawford against another UFC name, would justify $200 million in fixed costs. McGregor's willingness to name the figure and Crawford's rejection both clarify where boxing's elite see the cage: as a novelty with a price, but not their price.
McGregor's next eighteen months determine whether UFC retains him under a new deal or watches him leave for free agency at 36. Endeavor, UFC's parent, has historically re-signed marquee names before their final contracted fight, locking in Jon Jones, Israel Adesanya, and Alexander Volkanovski with extensions that included equity kickers, cryptocurrency partnerships, and tiered pay-per-view escalators. McGregor is a different class of asset: his April fight will be UFC's first major pay-per-view since moving to a new broadcast model with ESPN that shifts more revenue to guaranteed rights fees and less to per-event upside. If McGregor draws 1.5 million buys or more—his historical floor—UFC captures that value under the current contract but must negotiate his next deal in an environment where he has visibility into how much he alone moves the number. His whiskey brand, Proper No. Twelve, sold to Proximo Spirits for a reported $600 million in 2021, giving McGregor liquidity and leverage most fighters never see. He does not need the cage; UFC needs him to need it.
Watch whether McGregor's second fight lands before or after UFC's annual International Fight Week in July, a window that maximizes live gate revenue at T-Mobile Arena and positions the promotion's biggest remaining star in front of sponsors during upfront season. Also watch which broadcast team calls the Holloway fight: if McGregor draws a celebrity announce team or an international feed, it signals UFC is packaging him as spectacle rather than sport, a shift that makes his next contract negotiation more about entertainment economics than fighter purses. Crawford, meanwhile, fights Vergil Ortiz Jr. in a title defense this summer, a matchup that will clarify whether his rejection of $200 million holds when his next boxing guarantee comes in materially lower.
McGregor's timeline is now public, his price is now attached to Crawford's name, and UFC has two events to prove it still controls the most expensive exit in combat sports.
The takeaway
McGregor's two-fight close and Crawford's **$200M** rejection set the free agency price and define UFC's leverage window before its biggest asset walks.
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