Jake Paul on red alert as Nate Diaz is officially a free agent

Nate Diaz is now a free agent after being released from the UFC roster.

Diaz fought out his contract with a win over Tony Ferguson in September, but the one-time UFC title challenger wasn't technically removed from the active roster until this week. On Tuesday, UFC officials confirmed the news.

Diaz's agent, Zach Rosenfield, also confirmed to that the Stockton, California native was no longer under contract with the UFC. Diaz, a 27-fight veteran of the UFC, announced his intention to test free agency after his most recent contract with the organization expired.

He was supposed to fight Khamzat Chimaev in the main event of UFC 279, but the Chechen wrestler failed to make weight, forcing a change at the top of the card. Diaz eventually faced Ferguson instead, finishing the fight with a guillotine choke submission in the fourth round.

Following that, UFC president Dana White congratulated Diaz for all of his fights in the UFC and stated that he would gladly welcome Diaz back if he ever wanted to return.

Diaz's UFC contract has expired, making him one of the most sought-after free agents in MMA history.

Diaz has already toyed with the possibility of transitioning to boxing, with a battle against Jake Paul being one conceivable next step. The majority of the work is being done for a boxing battle with Nate Diaz, according to Jake Paul. He only needs the other side to agree.

Just minutes after learning that Diaz was finally free of any contractual ties with the UFC on Tuesday, Paul rushed to social media to boldly push for the fight that many fight fans have been waiting for for quite some time.

Paul, who announced on Monday that he plans to return in February, posted on Twitter that he has a venue secured for his next fight and that he has the specifications ready for Diaz in the form of a match agreement.

The biggest roadblock to Paul vs. Diaz has now been lifted, but it remains to be seen whether the two sides can agree to share the ring.