Ultimate Fighting Championship (UFC) heavyweight champion Fabricio Werdum has yet to finish his contract, although it seems that the company will not wait for it to lapse.

This comes at the heels of reports from MMAFighting.com that Werdum has been offered a new seven-figure deal which will reportedly be good for at least eight more fights.

Werdum is set to face Cain Velasquez in a rematch at UFC 196 this February 2016. Back in June, Werdum won via submission in the third round over Velasquez in Mexico City.

Werdum has been on a roll as of late. He has strung up six consecutive fight victories with his last loss at the hands of Alistair Overeem back in June 2011 via unanimous decision.

With the new deal, it all but secures the 38-year-old champion's tenure in the UFC who will likely end his career in the Octagon.

Werdum revealed the new deal via his Instagram account, thanking Dana White and Lorenzo Fertitta for it.

But as far as Werdum is concerned, the UFC didn't have to go through the trouble since it was his actual intention to finish his career in the UFC. But just the same, such should be a reward for his efforts and should take his mind off what the future possibly holds for him.

Werdum's win over Velasquez at UFC 188 allowed him to unify the heavyweight championship. He was able to wrest the interim belt when he previously defeated Mark Hunt via total knockout back in November 2014.

To his credit, Velasquez was returning from a long lay-off which spanned almost two years. Aside from that, Velasquez was unable to acclimatize himself to the high altitude of Mexico City.

On whether those were indeed factors may no longer be an excuse for him in two months' time. The fight will be held in Las Vegas and the added months should give him more than ample time to prepare for the Brazilian champion.