According to trainer Freddie Roach, Michael Bisping turned down the opportunity to face Georges St-Pierre.
St-Pierre is looking to return to MMA after a three-year absence, and expressed an interest in a fight with new middleweight champion Bisping.
But Roach, who has been working with St-Pierre, says Bisping turned down the fight.
"Yeah, I do like that fight, but Bisping said no. I know that that fight's not going to happen," Roach told Fight Hub TV.
Roach said that negotiations between St-Pierre and the UFC remained open, however, despite his recent comments about fighter pay.
"He's negotiating with the — well, he was negotiating with the Fertitta brothers," Roach said. "But I heard a rumor the company just got sold and bought by Ari Emanuel or someone. Maybe more than one person is involved is what I heard, but I don't know exactly who owns UFC right now. He'll negotiate with somebody, I'm sure.
"He looked really good in training. He did really well. But the thing is, there are no names out there yet. We haven't picked anyone or we don't have a favorite at this point."
As far as UFC President Dana White is concerned, however, St-Pierre’s UFC career is over.
"Georges St-Pierre will not fight again," White said. "I've said that before and I'll say it again. Georges St-Pierre is done. He is retired. He will not fight again.
"I know the mentality of a fighter that wants to fight and I know the mentality of a fighter that does not want to fight."