Did I understand right ?! Cobra king asked the mc to sign a contract to be his own persona...

No just a prostitute but working under him and for him. Im assuming becsuse of the whole issue with the old guy trying to take his business.

And it’s not the same thing I wrote? Basically he doesn’t want a lover but don’t want the mc to being touched by other men so mc should be a prostitute only fucked and paid by him

Oh sorry no i ment he still gets fucked by others but also by him cuz he said he would be the highest paid. Why form a contract or even pay a person who loves you and wants to be fucked by you. When i said working under him i ment that he isnt part of the cobra he will be part of his own personal line of prostitutes who still sell themselves to others. I was asssuming this because of the thing with the old man wanting the place.

But he said he doesn’t want other men touching the mc and he can fuck his prostitutes as he does with Charlie ... I think he wants the contract bc he wants the mc for himself but not as lover be he does not belove in those type of relationships

I understand why you think that, the only reason why i feel like it is not is cuz of the way he said it and did it. Cuz he also said they didnt have permission. And he never said he changed his mind on prostituting the mc. Remeber cuz this guy doesnt believe he loves him he just wants him to work there. He probably thinks treating him similar to charlie will suffice and that the moment of jealously he felt was probabaly cuz of the fact that he wanted to turn the mc into a prostitute himself and the other dude didn't have permission to touch him. He has yet to realize his feelings so the story might go in two direction either he chooses not to sign the contract and the guy falls in love as he tries to change the mc mind. Or he signs it and when the first buyer wants to fuck him the guy either regrets it or stops him before he gets fucked.
But again this is just opinion based off of the way other BL stories go and how they phrased certain words which you cant 100% rely on cuz phrases or words dont always translate well from one language to the next.