Bellator President Scott Coker has released a statement regarding Eddie Alvarez:
"We've granted Eddie his unconditional release. Eddie is free to explore the free agent market, we hold no matching rights, and we wish him the best in the future. We sat down with Eddie and his team a few times, and it became pretty clear early on that he just wasn't interested in fighting for Bellator in the future. We want guys in this organization that want to be here, and after the history Eddie and the former regime had here at Bellator, we decided to move on. We wish Eddie the absolute best of luck with whatever is next for him. It's a new chapter for everyone involved."
Eddie Alvarez has also released a statement:
"This was a long process but it's a decision that everyone seems happy with. I think it's important to say that I am genuinely thankful for my time at Bellator. I know that sounds a little crazy given everything I went through, but I've fought there since 2009, and have been involved in some really amazing fights. The staff there always treated me great, and I'm going to miss seeing a lot of those familiar faces around for sure. Myself and my team had some really good discussions with Scott, but in my heart I knew I was ready to move on and start the next chapter in my career."
[UPDATE: UFC president Dana White announced via Twitter that Alvarez signed with the UFC and will fight Donald Cerrone in the co-main event of UFC 178 on September 27 in Las Vegas, Nevada.]