UFC light-heavyweight champion Alex Pereira has re-extended his offer to grapple with one of his top contenders for $50,000.

Anthony Smith, who once came within a referee’s call of beating Jon Jones for the 205lb belt, has been going back-and-forth with Pereira for a number of months. And they agreed earlier this month to a bet where they would grapple for five minutes, with the winner getting a hefty prize pot.

And after seemingly agreeing to the contest, the trail appeared to go cold for a few days. But Pereira is now calling out Smith again, noting that they might have to make the bet happen in a gym if they are to prove their points.

Alex Pereira and Anthony Smith agree to $50,000 grappling bet

The feud started when Smith claimed that he could beat Pereira on the ground, given the Brazilian’s relative lack of experience in MMA. After just 12 fights, the ex-kickboxer has become a two-weight UFC world champion and is now being eyed up for a third title against Jon Jones at heavyweight.

But Smith feels he has not faced stern grappling tests in his run to those belts, and that despite his 19 defeats, five of which were submission, he could get the job done if they fought. This led to a bet in which Pereira would give the American his back and start a five-minute timer.

If Smith were able to submit Pereira within that time, he would receive $50,000. However, if Pereira manages to escape, the challenger must then pay him the eye-watering sum, which he claims he would donate to charity.

Speaking on Connect Cast, Pereira said: “I make a bet with Anthony Smith. I let him take my back with hooks in and give him five minutes to finish me. We can bet. He said I’d win a $50k bonus, he said it was a sure thing. So, if he sees me saying this here, I want him to accept.

“So, here we go, I’ll have five minutes to get up and stand. If I get up in one minute or four minutes, don’t matter, I stood up, he pays $50k. If he finishes me, okay.”

Anthony Smith accepts Alex Pereira’s big money challenge

For his part, Smith almost immediately accepted the terms for the bet and told Pereira to set it up. After defeating Vitor Petrino by first round guillotine at UFC 301, the American was high on his ability on the ground, noting that he would happily take the bet.

“What did he say?” Smith asked reporters in Brazil after his shock win. “Alex Pereira said that he would put up $50K but I can start on his back, hooks in and I got five minutes to finish him, and he’ll put up $50K for it… I’ll take his $50K.”

He then backed himself up a second time, adding: “I’ll take his money, if I start on his back then I’ll choke the s*** out of him, 100%.”

Alex Pereira sets out full terms for Anthony Smith $50,000 bet

In a new Instagram story, Pereira has reminded Smith of their agreement, and laid out the logistics for how they will compete. He noted that he needs a month to recover from two broken toes, but afterwards will be ready for the challenge.

“Someone tell this guy that the bet is real, I’m not talking about fighting at an event because I don’t need to promote myself,” he wrote in Portugese and English on an Instagram story.

“I’m talking about booking in a gym and the bet would be there because if you wait to fight me at an event, it would probably be difficult to happen.

“I was out of action for a month because I broke both of my toes, so I only need a month for me to recover some of my cardio.”