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A monstrous UFC clash between Jones and Ngannou had been mooted following their verbal jabs on social media.
But it appears the bout is dead in the waters after talks broke down regarding a UFC fight.
The UFC light-heavyweight champion took to Twitter to reveal that he had entered negotiations with the UFC about a fight with Ngannou before claiming the promotion was "unwilling" to pay him more money to move up in weight.
"Currently in negotiation with @UFC as we speak," Jones tweeted.
He then posted a series of tweets, venting out his frustration with the UFC.
"Before even discussing numbers, the UFC was unwilling to pay more for the Francis super fight / for me to move to heavyweight. Said I could possibly earn more in pay-per-view buys.
"It's been fun you guys, maybe I'll see you all in a year or two.
"Maybe when they're ready to do better business I'll come back, until then health fitness and family.
"I should've worded that differently, I actually think these guys do great business. Right now things just aren't where I want them to be.
"Red panty night for the light heavyweight division."
After some time to process the situation, Jones wrote: "I've had some time to think about it and Im a lot less emotional. Just sad that the ufc doesn't see my value against the scariest HW in the world. Jan I guess you're next in line #badbusiness #shocked."
I've had some time to think about it and Im a lot less emotional. Just sad that the ufc doesn't see my value against the scariest HW in the world. Jan I guess you're next in line #badbusiness #shocked- Jon Bones Jones (@JonnyBones) May 22, 2020
Ngannou also took to social media to update his fans about a heavyweight meeting with Jones.
"In my opinion, the @ufc aren't willing to make this Jon fight happens or at least for what it worth," he wrote on Twitter.
"2) No title fight, no super fight, who knows when going to be my next fight. Hope it's not in another 11 months or so. #ThisIsSucks."
In my opinion, the @ufc aren't willing to make this Jon fight happens or at least for what it worth :moneybag:- Francis Ngannou (@francis_ngannou) May 22, 2020
Jones hasn't fought since his controversial victory over Dominick Reyes in February at UFC 247.
Ngannou, on the other hand, is fresh off destroying Jairzinho Rozenstruik in 20-seconds at UFC 249.
Can you even imagine if this went down at heavyweight pic.twitter.com/lK63hqBTti- UFC on BT Sport (@btsportufc) May 19, 2020
A match-up between the two UFC stars appears unlikely for the time being unless they can strike a deal with Dana White.
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