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They were not quick with Ngannou, but he did his part, fought as champion for 600k instead of like 5 millions, left more if he signed for Jones, with Conor is easier, just take the damn fights, Nate did it, Ngannou did it, Conor makes millions each time.Conor is not bound by the champion's clause, but if the UFC offers him a fight and he refuses, the UFC certainly can and will extend his contract. It is basically the status quo for most signed fighters. I am pretty sure that Conor will also be bound by the matching rights period if he ever does become a free agent too.
The UFC doesn't mind letting guys like Big Frank and Nate walk. They will not be so quick to let Conor go and earn money for himself and others elsewhere.