Energy drink brand Monster could soon be seen in the UFC’s world-famous octagon.

According to multiple sources with knowledge of the deal, Monster is in advanced negotiations to enter a multi-year partnership with the UFC as an official sponsor. The partnership is worth more than $7 million dollars and puts the energy drink on the level of other major sponsors such as Reebok and Budweiser.

The sources spoke on condition of anonymity because they were not authorized to discuss the deal publicly.

The deal expands Monster’s presence in MMA and again puts the industry-leading UFC in close proximity with Bellator, which also holds a multi-year deal with the energy drink company and prominently features the brand. This past Saturday, the Viacom-owned promotion signaled it would contest the UFC’s recent signing of Quinton Jackson, who signed with Bellator in 2013 after letting his UFC contract expire.

It’s unknown whether a potential UFC deal could affect Monster’s current deal with Bellator, but the sources indicated that for the near term, the Viacom-owned promotion holds a deal with the sponsor.

In a video announcing his return, Jackson, a longtime Monster athlete, wore a hat with a the brand’s logo. The UFC typically blurs out or prevents fighters from appearing on camera with sponsors not approved by the promotion.

At the moment, details about the potential Monster/UFC partnership are scarce, but sources indicate the deal could put more sponsorship money on the table for fighters, whose opportunities to earn ancillary income could be curtailed with the formal arrival of Reebok in summer 2015.

Monster, which is owned by Hansen Natural Corp., reportedly held a 35.1 percent share of the U.S. energy drink market in 2013. According to Forbes, it did $2.4 billion in sales and made the business magazine’s 2014 list of best managed companies.