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Well that essentially works like any job. People have to perform to keep their job. But I think it's better for fighters to have a 6 fight contract, knowing that if they perform they have guaranteed pay and security. As opposed to negotiating fight by fight. I think in that scenario fighters lose a lot of security in a few ways. One, it opens up for the promotion to low ball them even more. Two, if fighters take fights in other promotions it lessens their advancement in the other promotion they've fought for. So if someone fights in the UFC and goes 3-1, and then negotiates a fight in ONE FC, they lose their chance in the UFC.
Overall, a system of having freedom like that would never work. Its not good for the promotion by any means and it really wouldn't benefits thea fighters.
Lol there is no guaranteed pay and security. The contracts are designed to restrict the fighter. They don't protect the fighter, they protect the promotion.
The NBA and NFL contracts have guaranteed pay and security, due to the athletes having a union that advocates for them. UFC contracts do not.