UFC 326 fight card: Five biggest storylines to follow with Max Holloway vs. Charles Oliveira in main event

For the second time in two months, the UFC will bring a numbered event to the fight capital of Las Vegas this Saturday when UFC 326 invades T-Mobile Arena. 

The card, which will be the first of UFC's new deal with Paramount Skydance to simulcast part of the event on CBS, will feature a rematch many years in the making in the main event as Max Holloway defends his ceremonial BMF title against Charles Oliveira. In the co-headliner, middleweights Caio Borralho and Reinier de Ridder will each look to bounce back from defeat in a pivotal three-round clash. 

As we get closer to this weekend's fights, let's take a look at the biggest storylines surrounding UFC 326.

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1. Buckle up: This has all the makings to be the best BMF fight yet

For the fifth time since its inception in 2019 at UFC 244 in New York, when Jorge Masvidal and Nate Diaz threw down, the ceremonial BMF title will be at stake this weekend. And there's an argument to be made that Saturday's main event is the best matchup to date from the standpoint of combined accomplishments, historical relevance and the expectations for excitement. Holloway, the former featherweight king and current BMF titleholder, and Oliveira, the former lightweight champion and owner of the most finishes and submissions in UFC history, have resumes that speak for themselves. And even though both are firmly in their mid-30s, their respective high-volume styles and willingness to consistently enter the fire have fans rightfully expecting nothing but fireworks and violence. Holloway, who knocked out Justin Gaethje in the final second of their UFC 300 clash in 2024 to capture the BMF strap, brings some of the most fluid striking in history to the fight along with his typically stubborn takedown defense. Oliveira, meanwhile, constantly creates chaos in pursuit of a stoppage. At some point, one or both of these warriors is going to point down in the center of the Octagon. What happens next will be pure theater. 

2. The result of the first Holloway-Oliveira fight has no bearing on the rematch

Consider it more of a footnote in the history of both future Hall-of-Fame fighters. And, if you're hoping to rewatch the first time Holloway and Oliveira shared the Octagon together all the way back in 2015, there truly isn't much to glean from that fight. In what served as a featherweight main event to a UFC Fight Night card emanating from Saskatoon in the Saskatchewan province of Canada, the fight lasted just 99 seconds as Oliveira, who was riding a four-fight win streak, was forced to retire from the fight due to an esophagus injury. The victory was the seventh consecutive for Holloway during a win streak that eventually reached 13 (including back-to-back featherweight title wins over Jose Aldo via TKO). But not only had both fighters yet to fulfill their true destiny at the time of the fight by winning UFC titles, Oliveira's abrupt injury robbed us of any resolution as to who was the better fighter or just how each of their styles contrasted against one another. 

3. Holloway-Oliveira II has more at stake than just the BMF title

With Oliveira, who is fresh off of a resounding submission win over Mateusz Gamrot last fall, ranked No. 3 at lightweight and Holloway, who has won four of his last five, ranked one spot behind him, this very much feels like a de facto No. 1 contender's fight at 155 pounds. Current champion Ilia Topuria is looking to return from a long layoff following his recent divorce but could just as well find himself in superfight against welterweight champion Islam Makhachev this summer instead of an immediate unification bout against interim titleholder Justin Gaethje. Should the 34-year-old Holloway win, in particular, the possibility of him headlining the UFC's White House event in June increases exponentially, whether that comes in the form of a rematch against Conor McGregor for the BMF title or a rematch with Gaethje for the interim lightweight belt. Holloway has also been vocal about his desire to rematch Topuria, who became the only fighter to knock the Hawaiian legend out during 2024 featherweight title bout that was competitive until the finish. 

4. Caio Borralho, Reinier de Ridder seek redemption in middleweight co-headliner

After both elite middleweights suffered setbacks in fights last fall that could've elevated each to the top of the 185-pound rankings, Saturday's co-main event between Borralho and de Ridder has a real win-or-go-home feel as it pertains to their respective top-10 rankings. Borralho, a 33-year-old native of Brazil, saw his 17-fight unbeaten streak snapped in September (following an 8-0 start to his UFC career) in a decision loss to Nassourdine Imavov. For de Ridder, a 35-year-old from the Netherlands, his fourth-round TKO loss via to Brendan Allen in October due to exhaustion ended a meteoric run of four straight wins in the span of just nine months after his UFC debut. Both defeats were of the humbling variety, meaning the pressure is on each of them to bounce back in a big way as the top middleweight contenders continue to get in line for a shot at new champion Khamzat Chimaev's first title defense. Borralho, the better striker of the two, enters as a 2-to-1 betting favorite in a fight that should send the loser back to the drawing board.

5. Featherweight prospect Raul Rosas Jr. draws his first ranked foe in step-up fight

Ever since he made his "Dana White Contender Series" debut at just 17 in his sixth pro fight, UFC fans have been waiting for Rosas, a native of Clovis, New Mexico, to capitalize on the type of potential rarely seen by a fighter his age. In the years that followed, the now 22-year-old Rosas has built a strong foundation to his UFC career, going 5-1 since his 2022 debut. A huge fan favorite in the Mexican-American communities, who is known for shouting his "Chiwiwis" catchphrase, Rosas has looked impressive in defeating the likes of Ricky Turcios, Aori Qileng and Vince Morales in recent fights. On Saturday, however, he will step up in competition considerably when he faces No. 13 Rob Font, the durable and experienced 38-year-old veteran, in a fight that should truly show exactly where Rosas is at. Font, who has won two of his last three, tends to only lose to elite foes, and could be an important test for Rosas should he desire to make a run at Jon Jones' record of being the youngest champion in UFC history at age 23 years, eight months.