If current plans come to fruition, two very prominent MMA fighters will soon have new employers.

UFC and ONE Championship officials are currently working on a “trade” that would see former UFC flyweight champion Demetrious Johnson head to ONE Championship, while the Asian promotion’s current welterweight title holder, Ben Askren, would make his new home with the UFC. Multiple people with knowledge of the discussions confirmed the news to MMAjunkie. The people requested anonymity because they are not authorized to speak publicly on the matter.

Following initial discussion of the deal on Tuesday’s episode of MMAjunkie Radio, ESPN.com reported the parties are “close to finalizing” the deal, which would likely see both fighters released from their current contract and given permission to immediately sign with the other promotion. However, a person with knowledge of the situation told MMAjunkie “we’re not done with it yet,” adding that while the possibility has been explored for “a long time,” “we will see how it plays out.” Such an outcome would be considered a first between major MMA organization.

Askren (18-0), also a former Bellator welterweight champion, last competed in November, picking up a TKO win over Shinya Aoki in Singapore. At the time, “Funky” said it would likely be his last MMA contest, though he recently took to social media to say there was a “98 percent” chance he’ll still compete in the UFC.

Meanwhile, Johnson (27-3-1 MMA, 15-2-1 UFC) is currently ranked No. 2 in the USA TODAY Sports/MMAjunkie MMA pound-for-pound and MMA flyweight rankings. In August, he ceded his title to current champ Henry Cejudo via split decision.

Prior to the setback, Johnson admitted he hoped to one day travel and collect titles from organizations around the world. His longtime trainer, Matt Hume, is also a ONE Championship executive.

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