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Michael Buffer says the UFC won't let him box. And Dana White himself said that if anyone wants to box Conor that they have to call the UFC first. But many stipulations in his contract don't comply with The Muhammad Ali Act.
Namely, 1 year maximum contract with promoters and managers. Managers and Promoters can't be linked.
Any language that goes against The MA Act will automatically nullify the entire contract.
Mcgregor is free to fight in boxing imo.