It was just a few months ago that Eddie Alvarez was the most popular kid in school as he had two different promotions fighting over the right to obtain his services.

The former Bellator champion entered restricted free agency earlier this year and immediately received a lucrative offer from the UFC. As part of the matching rights from their original contract with Alvarez, Bellator then countered and tried to re-sign him as well.

Originally, Bellator and Alvarez ended up countersuing each other over the terms of the matching contract, but just weeks ago cooler heads prevailed and the two parties reached a new deal. Alvarez is now back in the Bellator fold and will face lightweight champion Michael Chandler as part of the upcoming November 2 pay-per-view featuring former UFC stars Quinton "Rampage" Jackson against Tito Ortiz in the main event.

Chandler defeated Alvarez in their last meeting in one of the best fights in all of 2012.

Rumors have swirled ever since Alvarez signed the deal that his new contract was potentially as short as two fights. The idea was that if Alvarez beats Chandler in November, he would give him an automatic rematch, and the two fighters would face off again.

If Alvarez loses, then Bellator would cut him and let him go after free agency once again. Since those rumors surfaced, Alvarez claims that the terms being reported are false and he'd rather focus on the fight ahead instead of answering questions about his contract.

The problem with the deal, if it is under the terms as previously stated, Alvarez becomes a free agent only if he loses in the matchup with Chandler. If that happens, Alvarez won't find a home with the UFC because, as UFC president Dana White said on Thursday, they won't pursue a fighter coming off a loss.

White says that Bellator CEO Bjorn Rebney and the folks at Viacom who run Bellator are putting Alvarez in a tremendously bad spot, and one that he likely cannot benefit from in the future.

"I heard if he loses, he gets cut. (Loses he gets cut; wins he has a third fight; if he wins that, he's a free agent.) It's a scumbag boxing deal," White said. "What do they think? If Eddie Alvarez loses, he's gonna come sign a deal with the UFC? No. We really don't take their rejects. If Eddie loses, why would we bring him to the UFC? They put him in a real (expletive) situation. But that's what that guy (Bjorn Rebney) is, he's a piece of (expletive).

"He had an opportunity to go out and find out what he was worth. And he did, yet he didn't get paid. Yet he didn't get what he was worth."

White wasn't heartbroken about not landing Alvarez because he knows the UFC will move forward with or without the Philadelphia native coming to fight in the Octagon.

The real loser in this whole matter is Alvarez, who now has to go back and fight for Bellator, and if he can't pick up a win over Chandler, then he's stuck without a home in either promotion.

"The UFC is gonna roll on with or without Eddie Alvarez, but Eddie Alvarez worked his whole career to get to this spot where there was at least a couple players that were interested in him," White said. "Then he went out and found out what he was worth, and those guys screwed him."

Damon Martin is a Featured Columnist for Bleacher Report and all quotes were obtained firsthand unless otherwise noted.