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With his contract up, Phil Davis in negotiations for new deal with Zuffa

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Esther Lin, MMA Fighting

After his fight against Ryan Bader at UFC on January 24, Phil Davis' finished out the last fight on his contract with the UFC.

As reported on Wednesday night's edition of UFC Tonight, "Mr. Wonderful" is currently a restricted free agent, of sorts, as he is still in the exclusive negotiation period with Zuffa. Sources close to Davis told Ariel Helwani that the light heavyweight can't field any outside offers just yet.

Davis is coming off of a split-decision loss to Bader at UFC on FOX 14 in Stockholm, Sweden. The one-time collegiate wrestling champion at Penn State has dropped two of this last three fights, overall, dating back to UFC 172 when he lost to Anthony Johnson. In between, Davis scored a unanimous decision victory over Glover Teixeira at UFC 179.

The report said that the 30-year old Davis is willing to stay with Zuffa, but he wants to cash in a the right offer.