The news was broken by MMA Weekly, who says Strikeforce will crown a new champion.
According to MMA Weekly, UFC president Dana White said:
“He will give up the title, he will give up his Strikeforce title. He will come in and fight Georges St-Pierre, two guys will fight for the vacant belt in Strikeforce and we’ll go from there.”
Strikeforce is already lacking heavily in their welterweight department, and it is not yet known who could own the belt next.
The big names that come up from that shallow division are Tyron Woodley and Paul Daley. Daley recently lost to Diaz by first-round knockout in early April for the Strikeforce welterweight title.
There is also a bout with another one of the fighters who lost to Diaz in July containing Evangelista Santos who will face Tarec Saffiedine.
If Diaz so chooses, he could make a return to Strikeforce, but for now Diaz is strictly part of the UFC's welterweight division.
On October 27th, Diaz will catapult to the top of the UFC's welterweight division and fight GSP for the title in Las Vegas at Mandalay Bay.