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If the rumors are true about Mcgregor-Diaz II at UFC 200 then the UFC should strip Conor of the title and have Edgar-Holloway fight for the vacant title at UFC 200. It really isn't that important for Conor to be holding a belt. Belts don't sell PPVs.... fighters do.
And regardless of the UFC 200 results, Conor can still move down and face the FW title holder. Aldo can either sit out and continue recovering from his KO or fight someone like Charles Oilviera at UFC 200. And after that fight Aldo can still fight for the FW title by the end of this year or beginning of next year.
IMO this is the best way to go about it. Would create more buzz and create lots of new situations for Mcgregor matchups.
And regardless of the UFC 200 results, Conor can still move down and face the FW title holder. Aldo can either sit out and continue recovering from his KO or fight someone like Charles Oilviera at UFC 200. And after that fight Aldo can still fight for the FW title by the end of this year or beginning of next year.
IMO this is the best way to go about it. Would create more buzz and create lots of new situations for Mcgregor matchups.