3 biggest storylines ahead of UFC 323

UFC 323, the final pay-per-view event of the ESPN era, is upon us.

In Saturday's main event, Merab Dvalishvili defends the bantamweight title for the fourth time this year in a rematch with former champion Petr Yan. In the co-headliner, flyweight champ Alexandre Pantoja puts his belt on the line against Joshua Van.

Here are three key storylines ahead of the UFC's return to T-Mobile Arena in Las Vegas.

Dvalishvili looking to wrap up an all-time campaign

In early October, before UFC 320, I said that Dvalishvili had a chance to lock up Fighter of the Year with a win over Cory Sandhagen. Well, he took care of business versus Sandhagen, making the award his to lose. But then he decided three title defenses in a year wasn't enough. So, here we are again.

Dvalishvili, who's making a two-month turnaround as a UFC champion for no reason other than he likes to fight and wants to do it all the time, is looking to become the first fighter in UFC history to record four title defenses in a calendar year.

Not only would "The Machine" cement himself as 2025's top fighter with a win over Yan, he would put a bow on one of the greatest campaigns of all time.

Is Van seasoned enough to dethrone Pantoja?

Van is hoping there will be a changing of the guard in his title fight against Pantoja.

The 24-year-old has been one of the hottest flyweight prospects for a while and now has an opportunity to become the champion and start a new era in the division.

But the question is: Is he seasoned enough to take out a dominant champ like Pantoja?

Beating Brandon Royval in a Fight of the Year candidate is impressive, but it's not nearly as impressive as a win over Pantoja would be. Pantoja, 35, is a savvy veteran with a well-rounded skill set. He's coming off back-to-back stoppage wins and has defended the title four times since becoming champion in 2023.

Van has less than half of Pantoja's pro MMA experience and hasn't faced a ton of adversity in the Octagon. We'll see if this is too much, too soon for the Myanmar native.

Will Cejudo go out with a bang?

Former two-division champion Henry Cejudo said Tuesday that his fight against Payton Talbott will mark his final walk to the Octagon.

"This is it for me. ... I'm ready to move on," Cejudo told reporters.

The 38-year-old abruptly retired from MMA in 2020 and then came back three years later. But this retirement feels more definite. Cejudo is older now, and things haven't gone his way in the latest chapter of his career. He's 0-3 since returning, and it's clear he'll never challenge for a title again.

However, this is Cejudo's chance to deliver one more big moment before riding off into the sunset. He's a +225 underdog against Talbott and will need to overcome the odds to go out with a win. But it wouldn't be wise to count out a fighter of Cejudo's caliber. He's beaten the likes of Demetrious Johnson, TJ Dillashaw, and Dominick Cruz, and he's one of four fighters who have held two titles at the same time.

Regardless of Saturday's result, Cejudo will go down as one of the most accomplished fighters in the sport.