Is Fedor Emelianenko dumb or scared?

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With the recent end to the MMA promotion company Affliction, it looked like a sure thing that Fedor Emelianenko would come to the UFC. He would gain a lot by coming to the UFC. Money, tough competition, huge popularity in America where he is not that well known, and the chance to solidify his ranking as the greastest heavyweight in MMA history. But for some reason Fedor didn't sign with the UFC. He didn't even talk to UFC President Dana White. His manager did. You see his manager, Vadim Finkelchtein is the owner of a less popular fight promoter M-1 Global, and one of his demands was the Dana White allow M-1 Global to co-promote the fights. Dana White gave into every demand expect that demand. He offered Fedor more money than he's ever made, the option to fight in Sambo competitions in Russia and would have allowed Fedor to put M-1 Global logo's on his shorts, shirts, and banner. But he wouldn't allow the co-promotion. That sounds like a good deal to me. I don't understand why Fedor wouldn't talk to Dana White. He was present at the phone call between Dana and his manager but didn't say a word. So is Fedor just stupid to not take this offer or is he scared of the possibility that he will lose and ruin his ranking as the greatest heavyweight in mma history?