Image source, AP

Conor McGregor has become the first fighter to hold two Ultimate Fighting Championship titles simultaneously after a second-round knockout of Eddie Alvarez. 

The 28-year-old Irishman, who already held the company's featherweight title, defeated Alvarez to win the lightweight championship. 

McGregor had dominated the fight, knocking Alvarez down three times in the first round, before finally securing victory three minutes into the second.

The fight marked UFC's debut in New York City's Madison Square Garden, following the lifting of a ban on mixed martial arts events in the state earlier this year. 

Meanwhile Yoel Romero secured a championship fight with British middleweight champion Michael Bisping with a third-round knockout of Chris Weidman. 

The 39-year-old Cuban hit a jumping knee which left former champion Weidman stunned, before Romero finished the fight with punches.

Bisping had previously said he would not fight Romero, due to the contender's previously failed drugs test.

Tyron Woodley retained his welterweight championship after a majority draw decision against Stephen Thompson, while Joanna Jedrzejczyk defended her strawweight title against Karolina Kowalkiewicz. 

Former women's bantamweight champion Miesha Tate announced her retirement after losing a unanimous decision to Raquel Pennington in the final match on the main card.

Click here for the results from the preliminary fights, and follow all the action from last night's show below.

What a night it's been. Exactly 23 years since UFC's first event, the company made history with it's biggest card ever - and set a new gate record at Madison Square Garden in the process.

Time for us to sign off. We'll be bringing you even more from the press conference on BBC Three today, and a wrap-up of all the action from UFC 205 shortly for those just joining us.

But for now, that's it from our UFC live coverage. All eyes now on Belfast next weekend...

Image source, Reuters

Jagroop Shinbt
BBC Sport in Madison Square Garden

They needed something special to be worthy of the first ever UFC event in the iconic Madison Square Garden - it was the magic of McGregor.

The superstar delivered yet again and is now the first of a new breed of fighter in the UFC who can conquer on different levels of the game.

History has been made.

Image source, Reuters

Conor McGregor doesn't pull any punches in his response to the crowd, saying he's ridiculed the entire roster, and that Eddie Alvarez had no place being in the cage wtih him. The Irish fans in the crowd are eating up his interview after the fight, as he poses with his two belts.

Jagroop Shinbt
BBC Sport in Madison Square Garden

Fast and efficient work by the Irishman as he defeats Eddie Alvarez in the second round and makes history by becoming the first ever UFC champion in two different weight classes.

If there was anyone that was going to do it first, it was McGregor.

Image source, Reuters

And just like that, Conor McGregor makes UFC history.Another solid blow puts Eddie Alvarez on the deck and the Irishman follows up quickly with a combination of punches before referee John McCarthy waves the fight off.

Jagroop Shinbt
BBC Sport in Madison Square Garden

Conor shows us once again why he is such a brilliant entertainer as he puts both hands behind his back and taunts Eddie Alvarez.

But not before he knocks Alvarez down yet again for the FOURTH time of the night!

Image source, Getty Images

McGregor stops a takedown attempt after landing another punch on the lightweight champion, before taunting Alvarez by sticking his hands behind his back and jutting out his chin, inviting him to take a shot. Alvarez tries to push forward and launches a series of punches which McGregor manages do duck, before trying for another takedown which the featherweight champion manages to defend well.

Very much advantage McGregor's after knocking Alvarez down three times. Alvarez tries to finish the round with a front kick but McGregor replies with one of his own.

Image source, Reuters

Alvarez goes in for a punch and gets clipped on his way before recovering, then McGregor puts him down with another punch of his own, looking to deliver some ground and pound to the prone champion.

Jagroop Shinbt
BBC Sport in Madison Square Garden

A flashback from McGregor's 13-second KO over Jose Aldo just occurred as he floored Eddie Alvarez early in the first round, only to do it again soon after.

And AGAIN for a third time!

Here we go! A deafening reaction from the crowd as we get underway, but both fighters are tentative until McGregor drops Alvarez with a big shot to the head. The lightweight champion scrambles back to his feet, but it's first blood to Ireland.

Looks like Gordon Ramsay's got a pretty decent view of the action tonight.

Jagroop Shinbt
BBC Sport in Madison Square Garden

Eddie Alvarez is unsurprisingly on the wrong end of a wave of an onslaught from the Irish fans.

He’ll have to fight against the wave of McGregor’s legion of fans as well as the Irishman himself in order to retain his lightweight title.

Jagroop Shinbt
BBC Sport in Madison Square Garden

Madision Square Garden has just exploded into colour as the green, white and orange of countless Irish flags are proudly waved whilst the man of moment steps out in an attempt to make history.

Image source, BBC Sport

McGregor has a phenomenal strike rate - more than six significant strikes per minute according to fight metrics, while Alvarez comes in at 3.64 strikes per minute. 

The Irishman also has a significant reach advantage, a full five inches on his American opponent, giving him the chance to pick off shots against Alvarez from a distance. 

A whopping 85% of Conor's 20 MMA wins have come via knockout or TKO. However, Alvarez has a much higher takedown rate and importantly, is better at blocking takedowns from his opponents. 

He's also gone the distance more often than McGregor, especially in his last few fights. This may prove a huge benefit if the fight extends beyond the first couple of rounds - a tired opponent is easier to take down, and easier to stop.

Jagroop Shinbt
BBC Sport at Madison Square Garden

Image source, Getty Images

Whether he's fighting in the octagon or courting controversy between bouts, McGregor is a UFC box-office star. So why is the Irishman so 'notorious'? We put together the top ten reasons - and if you haven't yet seen them, click here to do just that...

So what does the controversial face of the Ultimate Fighting Championship think going into today's fight?

Watch BBC Three's interview below to hear his views on his fans, life as a fighter, and the UFC's debut in New York City...