By Edward Chaykovsky

UFC President Dana White has made it clear that regardless of what Conor McGregor is stating to reporters - the company's lightweight champion will NOT be participating in a boxing match.

Last week, McGregor obtained a license to box in the state of California. McGregor has been calling for a fight with retired former five division world champion Floyd Mayweather Jr. - but also mentioned that he's targeting several other boxing names if Mayweather is unavailable.

"I've got some other boxing opportunities and potential opponents in mind. Some previous Floyd opponents. They can bring in anyone in the game. We'll see what happens," McGregor said.

But McGregor is under an exclusive contract with the UFC. Unless the UFC gives him permission, they could legally block any attempt by McGregor to take part in a boxing match with Mayweather or anyone else.

And White says the company is not going to give McGregor the permission he needs.

“It ain’t happening,” White said to Yahoo Sports.

Mayweather Promotions CEO Leonard Ellerbe is not surprised by White's position, because the UFC was sold a few short months ago to investors for $4.2 billion dollars. McGregor is the face of the company and those same investors are not about to allow their biggest superstar to get crushed by a boxer.

“This is the bottom line, and that is that Conor McGregor is under contract with the UFC, period, point blank, and he can’t do anything on his own without the approval of Dana White and the brass at WME/IMG,” Ellerbe said. “They’re not going to let him do anything like this. The fact is, they didn’t invest $4.2 billion into that company to have the face of their brand [destroyed].”

Most MMA insiders believe McGregor's latest stunt, and his verbal threats to enter the world of boxing, are part of a calculated plan to gain to apply pressure with UFC brass to gain an ownership stake in the company.