ANAHEIM, Calif. -- Fedor Emelianenko, the top-ranked heavyweight in the world, will not fight in the UFC unless Dana White and company agree to co-promote with Emelianenko’s partners at M-1 Global.

M-1 Global President Vadim Finkelstein made that clear Wednesday at a news conference. Finkelstein confirmed that M-1 Global had negotiated with UFC officials as recently as Tuesday, meeting in person with Zuffa’s attorneys and also with Lorenzo Fertitta and Dana White on a teleconference call.

Finkelstein said the UFC made a new offer to Emelianenko, and M-1 Global made a counteroffer. However, Finkelstein said Emelianenko would not proceed without a co-promotional effort between M-1 and the UFC where they shared expenses and profits.

“Our offer was very simple,” said Finkelstein. “We offered to have a co-promotion -- two fights, three fights, doesn’t matter. And we were ready to invest in that show together and to get the profit together. But the UFC made a different offer that was a very good offer. But the same offer (they made), we can actually make to their champion. We can also offer millions to them and one, two, three, four fights to them.”

Finkelstein said the UFC responded to M-1’s counteroffer “very quietly.” Finkelstein called the negotiations “cordial” and “diplomatic,” though he did not give the impression that the UFC seemed receptive to his company’s offer.

“We are open,” Finkelstein said. “We do want to work with the UFC. We do want to work with other organizations. That is not our problem.”

Finkelstein also described the UFC’s previous offer to Emelianenko two years ago as “miserable.”

“If we had such an offer two years ago which we got yesterday, maybe we would be (interested), but not in today’s situation –- we cannot accept that offer,” said Finkelstein.

Finkelstein also communicated that the UFC's representation in the media of his previous negotiations with the organization had not been accurate. He said Emelianenko has been made completely aware of any deals, past and present, that have been offered.

“The offer which was made by the UFC is not interesting for us,” said Emelianenko. “I completely trust Vadim and I completely trust our team in M-1 Global."

M-1 Global also pressured the UFC by saying they are in talks with other shows, including Strikeforce.

“We're not going to wait,” Finkelstein said. “We have to move forward. It might be that very soon we will be able to make a deal with some other promotions. I'm going to tell you that we're only going to work under co-promotion conditions.”

Strikeforce is one promotion willing to co-promote with M-1 Global. Scott Coker, Strikeforce’s CEO, told Sherdog.com that it was his understanding that Emelianenko and M-1 Global have “four or five offers on the table,” including ones from boxing promotions and television networks. Coker said he would continue his own talks with Finkelstein in the next couple of weeks. Finkelstein and Emelianenko, who has partial ownership in M-1 Global, said they will begin their trek back to Russia Wednesday night.

Finkelstein did not rule out further discussions with the UFC, though it appears that no timetable has been set.

“Maybe not now,” Finkelstein said, “but I think later there will be some progress.”

Other notes

• Strikeforce CEO Scott Coker was present at the conference in the audience.

• Gegard Mousasi will leave Sunday and prepare one week in Holland before returning to the U.S. for his light heavyweight title bout against Renato “Babalu” Sobral at Strikeforce “Carano vs. Cyborg” on Aug. 15 at the HP Pavilion in San Jose, Calif.

• M-1 Global suggested it could take legal action against Affliction regarding the cancellation of the Aug. 1 event. "We're exploring all options at this time, legally, with regard to Affliction and what we believe took place," said Mark Hines, attorney for M-1 Global and Emelianenko. "We're not prepared to say where we're going to go with this, but I can promise you and I can promise Affliction that if something was done wrong, somebody will be held responsible."

Joe Hall contributed to this report, which was updated at 8:45 p.m. ET with additional quotes from Finkelstein and Emelianenko.