The two rivals have a checkered history that goes back years. McGregor recruited Malignaggi, an accomplished former world-level boxer, into his training camp in preparation for his crossover fight with Floyd Mayweather in 2017.
Malignaggi was tasked with mimicking Mayweather's fighting style, which is no easy feat but one Malignaggi could attempt thanks to the slick box-and-move strategies he used when he headlined championship title fights from 2006 to 2014.
However, their training relationship only lasted for a matter of days McGregor released sparring footage of him seemingly knocking Malignaggi to the floor with a punch, much to Malignaggi's chagrin.
"There's rumours of me and him negotiating [for a fight] but we were not negotiating," he said, adding: "I don't think there's a more lucrative fight out there for Conor than me at this point."
However, if a fight between the rivals were to come to fruition, Malignaggi believes it could be the end of McGregor's legacy as a top fighter as the Irishman has lost three of his last five contests in UFC and in boxing. Losing to Malignaggi also would extend that win-loss run to four defeats in six.
"I will make sure his legacy is dead and buried as I know he has no legacy," Malignaggi said. "He was not as good as people thought. It has now been proven. Legacy is made over longevity, and McGregor has no longevity. He's the punching bag of combat sports. He's a con artist."
Winner-takes-all
Malignaggi would welcome negotiations and believes the UFC could strike a deal with Matchroom Boxing promoter Eddie Hearn and advisor Al Haymon. He even said one of America's biggest broadcasters is already on board. "Theres no other fight he can make [where] he makes more money than he does fighting me the problem is, he gets beaten by me," he said.
"Hearn can easily put the fight together, Haymon can easily put the fight together, Showtime have said theyd be interested in it. Theres money in the fight."
But it is a fight Malignaggi said would result in McGregor ending up in a hospital, beaten to a pulp. "In boxing Id be interested in it I would love to fight Conor McGregor in a winner-takes-all fight in a boxing match, I would absolutely love it because I would beat him to a pulp, I would hospitalize him, and I'd make him go home broke, too."
McGregor, though, will not be able to negotiate any fight, with Malignaggi or with anybody else, until he discovers what punishment, if any, he faces for his alleged involvement in the post-fight brawls that marred UFC 229.
McGregor will learn his fate after a Nevade State Athletic Commission hearing on January 29 , and should he be permitted to fight in Las Vegas once again this year, then Malignaggi may well find himself on the shortlist of potential opponents.
SEE ALSO: Tenshin Nasukawa welcomes Conor McGregor's MMA challenge, but makes problematic demands of his own
DON'T MISS: Conor McGregor's rematch against Khabib Nurmagomedov 'should happen' this year, UFC boss says
UP NEXT: Conor McGregor's coach says the UFC star doesn't actually spend much money because his expensive clothes and cars are 'given to him'