Video: Watch Forrest Griffin, Stephan Bonnar UFC Hall of Fame induction ceremony

It has been called the most important fight in UFC history – and even the most important fight in the history of MMA by some.

The short-term effect “The Ultimate Fighter” Season 1 light heavyweight final between Forrest Griffin and Stephan Bonnar had on the UFC in particular was it turned the promotion into a hot property – one that could quickly climb out of debt and stay in business. The long-term effect, of course, was that by doing that, the UFC has become one of the biggest sports properties in the world.

UFC President Dana White is always quick to point out the importance of Griffin-Bonnar I and how it saved the company. And now, the two light heavyweights are part of the UFC’s Hall of Fame thanks to those 15 minutes of war in April 2005.

Griffin and Bonnar were inducted into the UFC Hall of Fame this past Saturday as part of the UFC Fan Expo at UFC 162. White and “The Ultimate Fighter” executive producer Craig Piligian made the official announcement.

You now can watch that induction ceremony in full in the video above. Check out Griffin’s short speech to the fans on hand – and Bonnar’s slightly longer one detailing his career and his loyalty to the UFC.

You also can watch the first fight between the two that led to the UFC’s explosion here on MMAjunkie.com.