Penn-Diaz On for UFC 137 in Las Vegas

Get your popcorn ready: Nick Diaz vs. B.J. Penn is on for UFC 137. | Photo: Dave Mandel

“This is crazy, but here we go again,” White posted Thursday on Twitter. “You wanted it, so you got it. Penn versus Diaz, Oct. 29 in Vegas.”

The reigning Strikeforce welterweight champion, Diaz had originally been slated to face Georges St. Pierre for the UFC title in the event's headliner. However, after allegedly missing two press conferences in as many days, Diaz was pulled from the bout by the UFC boss.

Instead of Diaz, Penn's original opponent, former WEC champion Carlos Condit, will now face the champion. With both Penn and Diaz left without an opponent, a potential bout between the two immediately drew attention from both media and fans alike.

UFC 137 will emanate from the MGM Grand Garden Arena in Las Vegas. Marquee welterweight matchups aside, the event will also feature a pair of pivotal heavyweight tilts, as Mirko Filipovic meets Roy Nelson and Cheick Kongo scraps with Matt Mitrione.

A former two-division UFC champion, Penn returned to welterweight in 2010 following a pair of losses to UFC lightweight king Frankie Edgar. The Hawaiian's reemergence at 170 pounds began fortuitously, as he knocked out old rival Matt Hughes in just 21 seconds at UFC 123. Most recently, Penn fought the highly-regarded Jon Fitch to a majority draw at UFC 127 this past February.

Diaz has not lost since 2007. The Cesar Gracie Jiu-Jitsu product captured the inaugural Strikeforce welterweight title in January of 2010, defending his belt thrice successfully before signing with the UFC earlier this year. Diaz's last in-cage appearance came against Paul Daley in April, as Diaz survived an early scare from the heavy-handed Brit to knock Daley out with only three seconds to go in the first round.