It appears as though Phil Davis is on the verge of signing with Bellator MMA.

According to sources close to the situation, Davis, 30, is very close to inking a new multi-fight contract with the promotion, and the deal could be officially announced as soon as Wednesday.

Davis, whose UFC contract expired after his January loss to Ryan Bader at UFC on FOX 14, has a 13-3 (1 NC) record. He started his career an impressive 9-0 before losing to Rashad Evans at UFC on FOX 2 in January 2012. "Mr. Wonderful" holds notable wins in the UFC over Alexander Gustafsson, Brian Stann, Tim Boetsch, Antonio Rogerio Nogueira, Lyoto Machida and Glover Teixeira. He is currently ranked no. 7 in the UFC's light-heavyweight rankings.

MMA Sun first tweeted about the possibility of the signing last week.

A four-time NCAA Division I All-American wrestler at Penn State University, Davis is managed by Zinkin Entertainment, who's long had a great working relationship with Bellator president Scott Coker.

No word just yet on when Davis is currently scheduled to debut for the organization.

Update: Bellator has announced the signing of Davis.

“I can’t wait to be fighting in Bellator and wreck shop on everyone,” said Davis in a statement. “I am the absolute best and most dominant grappler to ever fight in MMA and I’m excited to get in there and compete at my new home.”

