Randy Couture & UFC Holding Press Conferences This Afternoon

It was several weeks ago that reigning UFC Heavyweight Champion Randy "The Natural" Couture announced that he was severing all ties with the company and forfeited his title. The news rocked the mixed martial arts world. The reason why Couture left so abruptly was never made public, but there was talk that money was a major issue. Couture was said to be upset at the huge guaranteed money UFC was offering to Fedor Emelianenko, considered by many to be the best heavyweight fighter in the world.

Despite Couture's unhappiness with the money offered to Emelianenko, he still wanted to fight him. When negotiations fell through and Emelianenko signed a long term contract with another company, Couture reportedly decided it was time to move on.

Later today, the speculation will be put to rest. Couture is holding a press conference this afternoon live from the X-Treme Couture gym in Las Vegas, Nevada at 1:30pm local time (4:30pm Eastern). The MMA legend will answer "questions concerning his relationship with the UFC, future plans, MMA as a sport and anything else pertaining to his resignation."

The press conference will air live online at ProElite.com as well as on cable television channel HDNet.

Not to be outdone, UFC has scheduled their own press conference for today at 4pm (Eastern) ? just 30 minutes prior to the Couture announcement. The UFC has announced a conference call with the media on Thursday to announce a new television deal. No details were provided so it is unclear if the new deal is a renewal with Spike TV or if there is something else that has been agreed upon with another outlet. Also, Brock Lesnar, Chuck Liddell, and Wanderlei Silva will all be on the call.

This afternoon is sure to bring plenty of news. We'll be sure to folllow up on both press conferences later today.