It came as quite a surprise yesterday when news came out that former UFC light heavyweight champion Lyoto Machida had signed a contract with Bellator MMA. It turns out that his UFC contract was up and he was free to take offers, so he did. But today, the entire process came to light - and it was revealed that the UFC did actually match Bellator’s offer, but it was too late by then.
Bellator CEO Scott Coker and Machida spoke to the media at a press conference today about the deal (via MMA Junkie).