If you connect the dots based on what we know, it's clear what's going on behind the scenes.
UFC/Aspinall wants Jones vs. Aspinall for the real HW strap. UFC has offered Jones $12M or whatever and they want both fighters to sign the contract.
But Jones is like nah. He wants to keep the belt and have the OPTION to get a $12M guaranteed payday when and if he feels like it over the next 3 or 4 years. Obviously that would leave Aspinall hanging but Tom is the B side.
Tom is like interim belt or undisputed belt IDGAF just let me fight and get paid.
UFC knows Jones vs. Aspinall for the real belt is the biggest fight they can make right now. No one outside of hardcores gives a fuck about Aspinall vs. Gane/Volkov/Blaydes/Almeida right now. They also know that Jones would be a bigger draw as the "reigning defending HW champ" than as some 45 year old schmo coming out of retirement to get beaten down like Miocic did. That's why UFC hasn't stripped him yet but they will probably do so if they can't get him to fight by MSG.
For any of the new kids around Sherdog
Here are "some" of the dots ...
Jones lost his sponsorships years back due to personal behaviors.
Jones was at odds with UFC.
Jones took Cryin'fart to a decision, pathetically.
Jones has been called the greatest ever, but his numbers are not like Lesnar and McGregor.
Jones was "retired" already and took 3 years to move to heavyweight.
He arrived at HW the exact moment Francis left.
Francis went on to do the McGregor vs Famous boxer path... But without the UFC. Got hefty payouts.
Jones fought Gane
(who got easily outclassed by Francis.
Fuckin out wrestled by Francis. Seriously.)
Jones fought Stipe who was last murdered by Francis. It was a sad day in mma. Stipe disappeared and finally came back an old man.
Jones then wanted to fight another striker, who fought at 185 repeatedly in the UFC, Alex P.
Meanwhile there are two imaginary belts in HW.
A year went by and Tom, who holds a belt in the same division (how this makes any sense), is due a fight or his annual payout. So the UFC give him a date and opponent... To secure this situation instead of Tom being paid out (this is important).
The "opponent" is for "the singular UFC HW title".
Not the contender or Jones. Tom signed to show he is ready. Tom can legally break contract after 1 year and six months if they go to court. He has a case for the situation of two belts, stalling out his career in his prime, and would be released before the end of year 2. This is the key to what's occuring right now for Tom.
Jones, doesn't feel he is getting Wilder money, so he will be "stripped". It will be framed as "i don't care about the belt, I'm retiring the GOAT, i trolled ... (Whoever in his imagination)".
Tom will secure a lesser payout,
and the belt, again.
Jones in 2026 will hint at "un-retiring" after his contract is up. Which is to say, he is out of the testing pool six months.
We will have a McGregor situation, with Jones.
Tom will fight again due to impatience and show weaknesses, possibly get an injury.
Prompting Jones confidence to return.
Jones will need the money, come out of retirement to fight Tom as a "superfight" because he is pulling a GSP (vs Bisping). This will fund more hype, and help Jon get his money. Sadly and pathetically, it will be almost exactly the amount he turned down. In true Jones fashion.
Now before anyone mentions Jon needing money as speculation, remember that the more money, the more problems. Many fighters have larger issues with money, bad investments, family issues, and fighters always want to return for money fights. Jones money fight was Francis. He saw Francis get boxing money in ONE FIGHT.
HE WATCHED AS FRANCIS GOT IT TWICE.
Regardless of his loss, regardless of PFL failures,
It's a money thing.
Gus beat the piss out out of Jones (by Jon's own admission and story from the hospital crying to his mom, needing help to use the toilet).
If he is going to lose his undefeated record, or get beat up winning a decision, he wants "Francis boxing money". He wants "Mcgregor money".
What does this mean?
He wants MORE than money, he wants sponsorships, deals, backdoor business and the usual PPV.
The UFC simply hands billionaires more money but fighters... Peanuts by comparison.
Jones knows this.
(Side note - Chael is the biggest liar in MMA. Trust nothing that man says about anything.)