Dillon Danis and KSI will NOT be facing off in the ring -- at least not next weekend -- the MMA fighter has allegedly pulled out of their boxing match just 10 days before the event was slated to go down.

The two were supposed to scrap at OVO Arena Wembley on Jan. 14 ... which would have been Danis' first competition since 2019.

But according to Misfit Boxing's Mams Taylor, folks who doubted Danis would actually go through with the fight were right to be skeptical.

"The real reason is, from what they said to me, is that he's underprepared, he has no coach, he might be struggling with weight," Taylor said on Wednesday.

"For someone who cares about his reputation as much as he does, or what people think of him, I didn't think that this would be something, despite many people saying the opposite. Like, 'Look, he's not going to show up to the fight.'"

"They were right."

KSI isn't giving up on the whole event, though ... as he just tweeted, "The show must go on. I’m still fighting January 14th."