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They should do it like this season with lots of champions of regional promotions.
This, the 'tournament of champions' idea was genius.
Not only does it help give a boost to grass roots promotions (getting a regional belt could be a ticket to a direct path to a ufc belt, driving up competition), but its also a great excuse for reinjecting excitement and talent to divisions that might be in the doldrums (like flyweight, featherweight, or light heavyweight).
I think its a real way to grow the sport, like how big time major league sport teams such as in football or baseball have associated regional 'feeder teams' to draw talent from.