UFC president Dana White spoke about the situation on Monday and his advice for Alvarez was just to fight for Bellator.
Via MMA Junkie:
"He should fight for [Bellator]," White said Monday. "First of all, they have every right – he signed a contract, and they have every right to him. But at least pay the kid the money. (That's) the reason that you get that clause in your contract where you get out find out what you're worth. You get to get out there and shop around and see what Eddie Alvarez is worth. Well, Eddie Alvarez found out what he's worth, and they've refused to pay him that. It's bulls---."