Citing a source close to Couture, Meltzer reports that the negotiations include the proposed signing of a new three-fight deal with the UFC. Should discussions progress as desired, the promoter is hoping to announce the signing sometime next week.

Of course, there is a catch.

Meltzer’s sources state that should both sides agree to the contract, Couture would face Brock Lesnar at UFC 91 in Portland, Oregon on November 15th. Additionally, BloodyElbow.com’s Michael Rome reports that if the agreement is signed, the UFC would drop the breach of contract lawsuit it has filed against Couture.

MMA Junkie’s report varies in that their source stated to them that Couture would be willing to fight once more before the end of 2008. By his participating in a fight in the UFC, he would then be “clear and free” from the promotion.

UPDATE: MMA Rated has picked up on the article and is even reporting that Zuffa, LLC is considering a proposal from M - 1 Global, the management firm behind Fedor Emelianenko. Based on the premise that Randy Couture does indeed face and defeat Brock Lesnar on November 15th, both sides are willing to hold the much-hyped Couture / Emelianenko bout for the UFC's Super Bowl weekend card on January 31st.

To further add fuel to the speculation, M-1 MixFight's administrator recently posted about the rumored bout. The admin. states that negotiations are ongoing between the firm and the UFC for the proposed January 31st bout. This person's source for the information is Vadim Finklestein, who acts as Emelianenko's manager. Finklestein confirmed that Couture will likely fight in November and that Affliction Entertainment has expressed its desire to not have Emelianenko fight this New Year's Eve in Japan.

Additionally, MMA Rated reports that should negotiations between Couture and Zuffa end positively, then there will be an announcement made this Tuesday.