Tito Ortiz was offered a new UFC contract prior to his last fight at UFC 84, and he refused to sign it. Which was a rational move at the time, because had he won he would have had more leverage as to how much he was actually worth. As we all know, Ortiz lost to Lyoto Machida pretty convincingly. However, there were organizations such as Affliction and EliteXC that were in dire need of someone like Ortiz.
Ortiz failed to do his homework in the matter. Which is funny considering that Ortiz thinks his business acumen is like the greatest ever(it's not). Ortiz should have gotten his facts straight in regards to how the UFC's competitors were doing financially before continously biting the hand that fed him. By the way, that hand is capable of feeding him way better than the other competitors. Somewhere along the way Ortiz got it twisted that it's all about the fighters. It IS all about the fighters, but he forgot the most important thing in the game....WINNING. Winning against legitimate competition that is, because frankly Ortiz hasn't done much in that department lately. In fact he hasn't beaten a credible opponent since barely winning against a very green Forrest Griffin at UFC 59(and that fight is debatable).
The fact of the matter is, Ortiz is 0-2-1 in his last three fights but keeps demanding money like he's a top 3 LHW. While still a good fighter, it's clear that he is no longer a top ten fighter. Both EliteXC and Affliction are bleeding money, and are in a state of turmoil. As bad as they need a fighter like Ortiz just for name recognition, they simply can't afford what he's asking for. He could possibly go fight in Japan, but those organizations are in dire straits as well for the most part. Plus, the ego of Tito Ortiz NEEDS to fight in America.
There are reports that Ortiz is in negotiations with the UFC again after repeatedly saying his UFC 84 match would be his last. Frankly, I think he is in a worse position now than prior to the Machida fight. The UFC LHW division is STACKED and the numbers show he doesn't put butts in the seats like he used to. They don't need him, and Dana White has basically stated as such. In fact, it's possible that the contract they offer him now could be less than what they offered him prior to UFC 84. I mean what is he going say "No, I'm not signing for that" and go fight somewhere else? Then again, he could move up to fight at Heavyweight as I've suggested before.
All in all, I think the last few months may have humbled Tito Ortiz..or at least I hope so. If he does re-sign with the UFC, it will be interesting to see what angle he uses to justify him doing so. If he chooses not to re-sign, then basically Ortiz has made himself expendable.