Jon Jones says his run as UFC's light heavyweight champ is OVER -- claiming he's giving up the title amid a nasty pay dispute with Dana White.
"I hurt myself every time I walk out there and take a punch to the head and not feel my pay is worth it anymore," Jones said.
The drama began over negotiations for a Jon Jones vs. Francis Ngannou super fight.
Dana White said Jones is demanding $30 mil for the fight -- way too high for White.