When Bellator decided to let former lightweight champion Eddie Alvarez explore free agency early instead of forcing him to wait out an exclusive negotiation period, it seemed as though it wouldn’t take long for the UFC to jump in and snatch him up. However, a few weeks have passed since Alvarez was given the option to seek out a deal and no news has surfaced regarding his future.

In fact, according Bellator CEO Bjorn Rebney, it doesn’t appear as though the UFC has even made Alvarez an offer. Bellator has the right to match any contract thrown Alvarez’s way for another few months but has yet to be presented with the opportunity to do so.

“We’re literally waiting,” said Rebney in a conversation with MMAJunkie where he revealed the update on Alvarez. “We’d like to keep him, but it will all boil down to the numbers.”

Alvarez holds an overall record of 24-3 with wins in nine of his last ten tilts. He has come out with his hand raised in back-to-back bouts against Shinya Aoki and Patricky Freire, both of which involved opening round knockouts.