UPDATED Report: Conor McGregor, Floyd Mayweather Jr. Boxing Match in the Works

The saga continues.

British news outlet The Sun is reporting that UFC featherweight champion Conor McGregor and undefeated boxing legend Floyd Mayweather Jr. are in the final stages of negotiations for a boxing match.

According to the report, Mayweather (49-0) is set to come out of retirement for a purse upwards of 144 million dollars, while McGregor would earn slightly over 10 million. The bout is said to be planned for Las Vegas, which is coincidently home turf for the Ultimate Fighting Championship.

UFC President Dana White on Friday afternoon debunked the story in an item published by Yahoo Sports.

"It's not true; it's just a tabloid story," White said. "And as far as I knew, Floyd is retired and he's been on a world-wide vacation and hasn't even been thinking of fighting."

McGregor (19-3) is currently feuding with the UFC over the 145-pound champ’s insistence on not attending a press conference to promote his rematch with Nate Diaz. As a result, White pulled McGregor from UFC 200 in a very public spat that aired in homes across the globe on cable television.