To hear Gilbert Melendez tell it, he was on a call with his management and UFC CEO Lorenzo Fertitta when he got the news.

This was after he’d been told to look elsewhere by UFC president Dana White. After he’d done just that by going out and getting a deal with Bellator. It take-it-or-leave-it time for the UFC, and Fertitta had just told Melendez that the UFC had decided to take it.

“It was on a conference call and I had to put them on mute,” Melendez said. “I was just smiling and yelling and dancing around like a little girl. I was just really excited.”

He had good reason to be. Though Melendez wouldn’t divulge the details of his new contract with the UFC, he would say he was “extremely happy with the terms we came to,” including the promise of an “Ultimate Fighter” coaching spot opposite UFC lightweight champ Anthony Pettis, with a title shot to follow.

Getting the deal he wanted wasn’t easy, however. It required him to bite his tongue a few times, and also required him to be willing to jump ship and sign with Bellator if it came down to it.

“It’s a tough thing to do, but I never wanted to walk away,” Melendez said. “I never wanted to leave the UFC. It’s the best organization in the world, has the best fighters in the world, it’s where I wanted to be, but I had to put that aside to think about my family and my future. …I had to weigh it out and I had to explore my options. I got to a point where I had a good plan for my future, and I just had to hope that the UFC would come along with me so I could get to that point and still be with them.”

The important thing is that he had those options to begin with. It’s the kind of situation that reminds you of the importance of competition in the marketplace. The UFC may be the biggest game in town, but with Bellator as a viable option Melendez had real negotiating power. All he had to do, he said, was stay calm and let his management handle it.

“I have a great team and I left most of it to them,” Melendez said. “They’re a great management team. I voiced my opinion, and they helped me keep my emotions in check. When it comes to stuff like this, you have to take your emotions out of it and think of your family. It’s about more than just the title shot.”

For more on the UFC’s upcoming schedule, check out the UFC Rumors section of the site.