This was the last UFC event to be held by the UFC parent company SEG, as the company was sold to Zuffa LLC in January 2001. It was also the last UFC event to be promoted by the UFC-J division of the UFC that was intended to become a Japanese only segment of the UFC, hoping to compete with the upstart PRIDE FC that was having great success in Japan. This UFC event kept the standard UFC event format with five Main Card Fights, and two championship title fights. It had no preliminary matches. It should be noted that this even though this event was not released on video, and had relatively little pay per view exposure due to the UFC being forced out of the mainstream by certain lobbyists, it did play host to some of the most popular UFC fighters of the future including Chuck Liddell, Matt Hughes, Jeff Monson, Evan Tanner, Matt Lindland, Tito Ortiz and Pat Miletich.