What happened: UFC CEO Dana White revealed he met with free agent Nate Diaz a few weeks ago to discuss a return, but Diaz signed with Jake Paul's MVP promotion instead. Diaz is now set to fight Mike Perry on the May 16 Netflix card headlined by Ronda Rousey vs. Gina Carano at Intuit Dome. White said Diaz received an offer he couldn't refuse and expressed happiness for him.

Why it matters: The revelation underscores intensifying competition for top MMA talent between UFC and emerging promotions like MVP. For fans, it confirms Diaz's high-profile return against brawler Perry on a landmark Netflix event, potentially shifting focus from UFC welterweight developments. White left the door open for Diaz's future UFC comeback post-fight.

What to watch: Monitor opening betting odds for Nate Diaz vs. Mike Perry and further card updates for the May 16 Netflix event. Watch for any post-fight indications of Diaz's next move with UFC.