There’s been some interesting developments in the story surrounding Nick Diaz’s fight. As it looks right now, Diaz is either going to box Jeff Lacy or he’s going to fight Georges St. Pierre for the UFC welterweight title, and which direction he goes largely depends on the UFC.

Earlier today, Lacy’s promoter, Don Chargin, issued a press release stating that Lacy had signed a bout agreement to box Nick Diaz later this year. Chargin also claims that Diaz has done the same, but Diaz’s manager Cesar Gracie tell MMA Fighting that they’ve only signed a contract with Chargin, not a specific bout agreement.

That doesn’t mean that they won’t sign it though. Gracie says they’re waiting to see whether UFC offers Diaz the opportunity to fight Georges St. Pierre. If they do and they can agree on terms, Diaz will forgo the boxing match to mix it up with GSP in the Octagon.

“Nick has a signed contract but is waiting to sign an actual bout agreement,” Gracie wrote in a text message on Friday afternoon. “We are only waiting to see if Zuffa is serious about a Diaz-GSP fight.”

From the sound of things, the ball is now squarely in the UFC’s court. While Team Diaz has made it perfectly clear they want Georges St. Pierre, it’s not the end of the world for them if they don’t get him in the near future. In fact, Gracie told MMA Weekly before this news broke that their ideal situation would be to box first and fight GSP after.

“Nick wants that fight. He would love to take that fight. Obviously, I would like to put another one of my guys against Georges St-Pierre, so we definitely want that fight… However, there’s a lot of questions to be answered and really the only people that can answer the questions are Lorenzo and Dana… It’d be great, best case scenario for us would be Nick boxes and then he goes and fights GSP. But again, the person with the answer, the guys that have the answers to all of this and can make everything happen is Lorenzo Fertitta and Dana White… I feel pretty good about that fight as far as Nick having the chance to take care of business and bring the belt home back to the U.S. and Northern California.”

Dana White told reporters last weekend that he was planning to fly to Stockton following UFC 129 to talk to Nick Diaz about the situation, but it’s unknown if he actually did or what came of that meeting. Judging by Gracie’s comments though, it doesn’t sound like much if they even met. Gracie told MMA Fighting they hope to hear from the UFC next week.

Image via Esther Lin for Strikeforce/Showtime

Update: Bloody Elbow is hearing from Jeff Lacy’s camp that Nick Diaz will make at least $175,000, “possibly slightly more,” if they get in a boxing ring together. Lacy is apparently willing to take a little less than the typical 50/50 split to get the deal done, so Diaz would actually make a little more than him. It’s not the millions Nick wanted but $175,000 is still a nice chunk of change.

Right now, it would be an independent pay-per-view, but it’s possible a network such as Showtime could get involved.