Carano hasn't fought since 2009, when she was defeated by Cris "Cyborg" Santos.
Even though five years have passed since her last appearance, Carano has remained one of the most-searched athletes in the world.
Carano has also kept her name in the spotlight by appearing in several movies over the years.
If Carano is to ever fight UFC bantamweight champ Ronda Rousey, it would undoubtedly be the biggest women's fight in UFC history.
The only problem is that Carano has trouble getting down to 135 pounds, so the fight would likely need to be at a catchweight.
Luckily, Rousey recently stated that she would make an exception for Carano by moving up to 145 pounds to accommodate her.
Since Carano hasn't fought in five years, it's unlikely that the UFC would throw her to the wolves right away. Rousey would probably easily stop Carano, so the UFC might want to ease her into the mix by squaring her off against a lesser-known opponent at first.
Carano will be meeting with White this week, likely to discuss finances. Time will tell how the situation plays out, but it seems more likely than ever that Carano is bound for the UFC.