Al Iaquinta and Donald Cerrone have reportedly reached a verbal agreement to main event UFC Fight Night 150 in May.
Cerrone, 35, is coming off a TKO victory over Alexander Hernandez in January. He's won two straight bouts since a stretch of four losses in five fights.
McGregor had been on the top of Cerrone's wish list, with the latter publicly saying he was hoping for a summer fight.
"It's definitely gonna be this year," Cerrone said in February. "This summer, I think, right? Hey, Irish, Australian, American. F--kin' root for whoever you want. I'm going in there to fight. I love it, man. I don't careu2014boo, cheer."
Iaquinta, 31, is 14-4-1 as a pro and is coming off a unanimous decision victory over Kevin Lee in December. The victory earned him Performance of the Night honors.
Iaquinta has lost only once in nearly five years, a unanimous decision defeat by Khabib Nurmagomedov at UFC 223. He's been in the octagon three times since returning to the promotion in 2017 after a two-year contractual dispute.