Conor McGregor vs Nate Diaz: What next for 'The Notorious' after shock defeat at UFC 196?

Conor McGregor is already plotting his return to the Octagon just a day after he was dealt his first defeat in the UFC following his submission to Nate Diaz at UFC 196, but what are his options?

McGregor undefeated streak in the UFC came to a shocking end when Diaz, who took the fight at just 12 days’ notice following Rafael dos Anjos’s withdrawal through injury, forced McGregor to tap out in the second round after locking in a rear naked choke hold.

The 27-year-old attempted to step up two weight divisions since his December victory over Jose Aldo at featherweight, and after initially planning to fight Dos Anjos at lightweight, the opportunity to face Diaz at welterweight soon arose.

McGregor is still expected to headline UFC 200 on 9 July where he is likely to defend the featherweight championship that he won against Aldo, though who could he be facing?

The former featherweight champion has wasted no time in calling out McGregor in his bid to gain revenge for the 13 second knockout defeat he suffered at UFC 194. Aldo believes that he can still beat McGregor despite the stunning finish in December last year, although McGregor has already knocked back the Brazilian by claiming he is a “loser”.

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Aldo is so confident that he will receive a rematch that he tweeted immediately after McGregor’s defeat by Diaz to say: "See ya at #UFC200, @TheNotoriousMMA. Your fairy tale is over. You got nowhere to run now. Time to a rematch, p****."

Whether Aldo would be favoured to receive a rematch from UFC president Dana White given he has not fought since the UFC 194 loss remains to be seen, as there are perhaps more deserving options out there to headline the showcase event.

Edgar is riding on a crest of a wave at the moment after a five-match winning streak saw him defeat Chad Mendes at The Ultimate Fighter 22 Finale, a victory that put him in pole position to face McGregor before he announced his step up the weight divisions.

As well as Mendes, Edgar has seen off Urijah Faver, BJ Penn, Cub Swanson and Alex Oliviera, and his impressive run has seen many view him as the logical number one contender even if Aldo pursues his intention of a rematch.

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Speaking last week, Edgar attempted to increase the pressure on McGregor to fight him by claiming that the Dubliner was deliberately avoiding him.

“Everything he does is calculated, to me, that’s also a sign that he’s scared to fight me,” Edgar said.

With McGregor admitting after the Diaz fight that he is expecting a return to the featherweight division, the showdown with Edgar could well be the most likely option that the fans want to see the most, given the two have not fought before.

Having lost to McGregor in August 2013 in just the Irishman’s second fight, Holloway has rebuilt his career and reeled off eight straight victories – the latest of which saw him defeat Jeremy Stephens via a unanimous decision. Holloway, like Edgar, also has recent victories over Swanson and Oliviera, and the 24-year-old is beginning to come of age to become one of the leading contenders in the 145 lbs division.

Holloway has been much more reserved in his attempts to lure McGregor into a rematch, and even paid tribute to him following his loss to Diaz, in stark contrast to Aldo’s efforts.

Speaking before last night’s event, Holloway said: "I can’t wait to rematch that guy.

"I’m not saying that when we fight again, I’m going to win and this and that, I’m just saying that — everybody was saying the first fight was good, and I should be happy I went to a decision with him.

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"That’s being happy in second place or being a loser. I don’t want to be a loser, I want to be a winner. I work too hard to not be one."

The prospect of McGregor facing his original UFC 196 opponent, Rafael dos Anjos, now looks off the table following the loss to Diaz, with the American now primed to face the lightweight champion once he has recovered from the broken foot that ruled him out of the pay-per-view.

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But McGregor and Dos Anjos’s heated exchanges in the build-up to the bout could yet lead Dos Anjos to pursue the fight with McGregor in a bid to teach him a lesson, although Diaz is now in prime position to face the champion in a rematch from their December 2014 match that saw Dos Anjos triumph by unanimous decision.

McGregor still has ambitions of being a success at a heavier weight, be it lightweight or welterweight, and if Dos Anjos were to offer him the match the Dubliner would have to seriously consider it if he wants to live up to his word of becoming the most conquering fighter in the business.

A rematch with his conqueror? Unlikely, but you never know what McGregor is going to do next. The defeat will have hurt McGregor’s pride more than his physique, especially at Diaz delivered his promise to expose McGregor’s perceived weakness of defending against submission attempts. McGregor’s three career defeats have all come by him being choked out, and if he were to face Diaz again who is to say that the same result would not be inevitable.

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Diaz will have his sights set on a lightweight showdown with Dos Anjos, and can also boast the tag of being the man that stopped McGregor’s rapid rise through the UFC. He could certainly face McGregor again somewhere down the line, but a UFC 200 showdown looks the least likely option.