'Bad business': Jon Jones and Francis Ngannou blame UFC after revealing superfight talks failed within MINUTES over pay

Light heavyweight king Jon Jones has admitted he was "sad" that the UFC failed to match his asking price for a meeting with "scariest heavyweight in the world" Francis Ngannou – and his potential opponent has backed his view.

Jones was willing to step up a weight division to take on the feared Ngannou, revealing that negotiations over a "super fight" had begun late on Thursday.

But shortly afterwards, the pound-for-pound number one lambasted talks with the UFC as "unbelievable" and predicted he would spend at least a year out of the ring after their offer fell short of his expectations, with Ngannou later echoing his opinion that their potential fight had been undervalued.

"Before even discussing numbers, the UFC was unwilling to pay more for the Francis super fight and for me to move to heavyweight," explained Jones, tweeting to his following of more than 2.3 million within two hours of claiming that he was in discussions with championship bosses.

"[They] said I could possibly earn more in pay-per-view buys. Maybe when they’re ready to do better business I’ll come back, [but] until then, health, fitness and family. It’s been fun you guys, maybe I’ll see you all in a year or two."

The notoriously reactionary Jones then seemed to suggest that negotiations could reopen, adding: "I should've worded that differently. I actually think these guys do great business. Right now things just aren’t where I want them to be."

Ngannou, who won Performance of the Night at UFC 249 with a rapid win over Jair Rozenstruik, also said he had been left in limbo by the stalled talks.

"In my opinion, the UFC aren't willing to make this Jon fight happen – or at least for what it's worth," he told fans. "No title fight, no super fight, who knows when my next fight is going to be? Hope it's not in another 11 months or so."

Jones bragged that the news would cause a "red panty night" among light heavyweight fighters eager to challenge him, naming Jan Blachowicz – with whom he had a public spat after the Polish veteran said he "couldn't wait to fist" him last month – as "next in line."

"I’ve had some time to think about it and I'm a lot less emotional. Just sad that the UFC doesn’t see my value against the scariest heavyweight in the world."

There had been hopes that a showdown between Ngannou and Jones could have taken place as early as this summer after both men made mention of a fight.

"I want that crown too," declared Jones earlier in the day, telling the UFC to "send a deal" and alluding to the bulk he intended to put on to match Ngannou's size. "The Goodwill in Albuquerque is about to get hooked up with some bomb ass 36 [inch] waist jeans.

"The more I think about it, if I’m going to be taking big risks, I might as well go for all the cheese."

Asked by fans if he would be willing to reduce his pay demands for the sake of a "legacy" fight, Jones responded: "Honestly, no – not at this stage of my career. I could retire today. I’ve already done my job. I’ve given this company over a decade of entertainment."

Jones beat Dominick Reyes by unanimous decision at UFC 247 in February, extending his unbeaten run since the only defeat of his career – a disqualification against Matt Hamill in 2009 – to 18 fights over more than a decade.

Ngannou is ranked at number two in the heavyweight division and has knocked out all four of his most recent opponents in the opening round, with only one lasting more than a minute.