UFC 262 takeaways: An unlikely champion takes the throne

Charles Oliveira captured the vacant lightweight title with a second-round TKO over Michael Chandler in the main event of UFC 262 on Saturday in Houston.

Here are five takeaways from the pay-per-view card.

Historic journey takes Oliveira to the belt

Twelve months ago, around the time when Justin Gaethje stopped Tony Ferguson to claim the interim lightweight title and earn a shot at then-champ Khabib Nurmagomedov, it's unlikely many people thought Oliveira would find himself with the UFC belt around his waist the following year.

"Do Bronx" was ranked No. 7 in the division, and with highly skilled fighters like Gaethje, Dustin Poirier, and Conor McGregor above him, the road to the title in one of the UFC's deepest divisions was long and winding. Additionally, Nurmagomedov was an unstoppable force whose retirement came out of nowhere, so anyone else - especially Oliveira - being the lightweight champion in May 2021 seemed unlikely.

In some ways, the cards fell into the right place for Oliveira. His title shot didn't come against Nurmagomedov, or even Poirier, the consensus No. 1 lightweight before Oliveira's title win.

However, in many ways, the Brazilian - who's one of the unlikeliest champions in UFC history - was dealt a bad hand. What he's done in the past 12 months after a roller-coaster career is an incredible feat.

Oliveira made his UFC debut in 2010, and he fought 27 times before getting a title shot. By capturing the belt in his 28th bout, he broke Michael Bisping's record for the most UFC fights before winning a title.

The new 155-pound king was once known for missing weight and quitting in fights. It's not long ago when he was 10-8 (one no-contest) in the UFC. He was 1-3 in his past four outings when he moved up to the lightweight division in 2017, and all three of those losses were finishes.

Oliveira was a ranked featherweight for several years but never quite reached the title conversation. He seemed to always be one or two wins away. In hindsight, maybe that's because lightweight was the right division for him all along, or because he was still young. Either way, it seemed Oliveira would never be anything more than just a top-10 fighter.

That's what makes this moment so special.

It's hard not to feel good for Oliveira after he finally realized his dream of becoming a UFC champion at the age of 31. As the owner of the most finishes in promotional history, he deserves the spotlight. He's faced adversity many times and come back from it - he even faced his fair share in the Chandler fight. He's humble and a good human being, and you just know how hard he's worked for this.

Oliveira is a positive representative of the sport, and he's going to be a great champion.

Chandler still among the elite

There will be many who dog on Chandler as he comes to terms with the fact his bid for the UFC lightweight title didn't go his way.

Much of that stems from the fact Chandler received the championship opportunity following only one UFC fight; he beat the No. 6-ranked lightweight in Dan Hooker in his debut. Meanwhile, Gaethje won four in a row against quality opponents before losing to Nurmagomedov, and he's now struggling to book a fight.

However, regardless of how you felt about Chandler getting a crack at gold so early into his UFC career, it wasn't fair to question whether he was elite, and that remains true after this loss.

Chandler was just a few seconds away from knocking out Oliveira in the first round. He did a ton of damage on the ground and bloodied up his opponent. A few more shots and the referee might've stepped in. "Do Bronx" was clearly hurt, and it shouldn't be a knock on Chandler that the champion was able to swiftly turn the tide in the second round.

The challenger proved in the first round he deserves to be among the top lightweights. Though it ultimately wasn't his night, that doesn't mean it can't be in the future. It would be foolish to write off Chandler.

As one door opens, another closes

There was a changing of the guard in the lightweight division in the co-main event.

Beneil Dariush handed No. 5-ranked contender Tony Ferguson his third straight loss in a grappling clinic. As Dariush finally broke through as a real contender in the division, it became clear that Ferguson's days at the top are over.

Ferguson is 37 years old, so it's no surprise that age finally caught up to him, especially considering his fighting style typically features eating a shot to dish out two. He took a ton of damage against Gaethje in 2020 and hasn't been the same since.

"El Cucuy" was one of the best lightweights on the planet for years. He, Nurmagomedov, and McGregor were the triple threat of the 155-pound division. He won 12 in a row from 2013 to 2019; the former interim champion was unstoppable, and the only reason he never challenged for an undisputed UFC title was a combination of bad timing and unfortunate circumstances.

As talented as Ferguson was in his prime, everyone runs out of gas eventually. It's going to be a tough pill for Ferguson to swallow, as he was so dominant until he ran into Gaethje, Oliveira, and now Dariush. But the reality is he's past his prime and needs a miracle to become a contender again.

Ferguson had a terrific and memorable run, but it appears to be all but over.

Barboza still has it

Edson Barboza's questionable decision to move down to featherweight has worked out pretty well so far.

The former lightweight contender could be 3-0 in the division after picking up his second straight victory, an impressive knockout over the No. 9-ranked Shane Burgos, in Saturday's opening main-card bout. Barboza lost a decision to Dan Ige in his 145-pound debut last year, but many felt he deserved the judges' nod.

When he decided to move down, Barboza was in the middle of a slump. He was 1-4 in his past five outings, so some looked at the move as a desperate attempt to get his career back on track. Like Ferguson is now, Barboza faced questions about whether he was done.

But with the win over Burgos, the 35-year-old assured he still has more to give in the sport. It was his best performance since stopping Dan Hooker in 2018. His leg kicks were sharp, his movement was good, and he still has a lot of power.

Now, Barboza will look to take the next step toward a featherweight title shot - and after he reminded everyone he's still one of the best, it wouldn't be smart to count him out.

End of the road for Souza

Ronaldo Souza's latest loss was tough to watch.

One of the best grapplers to step into the Octagon, "Jacare" suffered the first submission defeat of his professional MMA career against Andre Muniz, an up-and-coming middleweight who's now 3-0 in the UFC. Souza broke his upper arm as Muniz locked up the fight-ending armbar in Round 1 and is set to undergo surgery Monday.

This was his fourth straight loss - he hasn't been victorious since 2018 - and made it clear that Souza is nearing the end of the road.

Getting knocked out by Kevin Holland is one thing, but it's time for Souza to call it a career when he starts to lose at his own game - grappling, a skill set he used to dominate opponents for years.

This surely isn't the way Souza envisioned the end, but not everyone can have an exit like Nurmagomedov, Georges St-Pierre, or Henry Cejudo. With Souza's days as a contender far in the past, there's nothing left for the Brazilian veteran to prove.