Rebney wants to keep Alvarez on hand.

Bellator CEO Bjorn Rebney said that Bellator has made free agent Eddie Alvarez an offer, and that if he accepts it, he stays in the Bellator fold. If he doesn't, Rebney will allow him to bypass the remaining 70+ days of the exclusive negotiating period and take his talents to the open market, where he will no doubt be MMA's hottest commodity.
If that happens, Rebney expects the situation to resolve itself quickly as the UFC is likely to swoop in with an offer, and Bellator will have a chance to match it.


source: mmafighting.com