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Your second point hints at another reason Stipe has a reason renegotiate, unless I'm wrong he signed his current deal before he was a top 5 heavyweight, before he was headlining PPVs, before he was required to triple his media obligations. In any other situation a larger workload than previously agreed upon = more pay to reflect said increase.
Yes, he should renegotiate, I agree with you.
If I was Stipe, I would talk to Bellator, use them as leveridge. Gilbert Melendez did this.