Maybe. Probably even. If so, I would guess that this is the MMA side of his deal, which will carry him until one of 2-3 HWs are available for a pure money fight. If the rumors of PFL buying Bellator are real, then this all makes more sense.
If you are PFL, and you're doing a serious investment round, then signing the best HW free agent, and then surrounding that attraction with the best roster outside of the UFC seems the obvious way to go. It is risky, but it is really the only hope you have of rising to the level of at least a Strikeforce.
My best guess would be that if this is real, it will be an extremely lucrative offer for Francis, and also allow him to box.
PFL uses this as proof that they are serious about enacting certain acquisition plans. Investors talk to the different parties about ideas from, absorption of Bellator(more likely), to some kind of structured co-promotion deal to bolster both promotions(much less likely).
Honestly, as long as we can see fighters out there getting what they want, I'll be happy about the deal.