Looks like “El Nino” will continue to be an asset for the UFC for a long time to come.

Despite accepting an offer from Bellator, the UFC’s main competition, last week, Gilbert Melendez resigned with the UFC over the weekend and the promotion issued a press release late Sunday night.

“The Ultimate Fighting Championship announced tonight that No. 2 ranked lightweight contender Gilbert Melendez has agreed to a new contract with the organization,” the release said.

“Terms of the deal were not disclosed. Melendez will now coach against UFC lightweight champion Anthony Pettis on season 20 of The Ultimate Fighter. The two will then meet for the UFC lightweight title later this year.”

While Bellator announced their signing of Melendez last week, simply calling it a “multi-fight, multi-year” deal, the UFC opted to match the offer in a fairly quick fashion.

According to MMA Fighting, Melendez’s new deal ensures that at least 75 percent of his bouts must be contested on a pay-per-view event. Furthermore, Melendez will receive PPV points in almost all circumstances – including one that underperforms at the box office.

Melendez has won eight of his past nine fights, with his only loss being in a championship bout against then-titleholder Benson Henderson at UFC on FOX 7 in April.

Most recently, the Cesar Gracie Jiu-Jitsu fighter defeated Diego Sanchez in 2013’s “Fight of the Year” at UFC 166 in October, winning a massively entertaining unanimous decision.

Meanwhile, Pettis is currently riding a four-fight win streak and last fought when he captured the belt from “Bendo” at UFC 164 in August.