'I blew it': Aussie underdog falls short in UFC title fight

Steve Erceg has fallen short in his bid to become a world champion - but the Australian underdog lost no admirers against Alexandre Pantoja in the main event of UFC 301.

Despite being a massive outsider and ranked 10th in the division, Erceg walked into enemy territory in Brazil against Pantoja and went the distance in a tremendous bout.

However, the champion did enough to retain the UFC gold, securing a unanimous decision with the three judges scoring 48-47, 48-47, 49-46.

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Erceg joined the UFC less than a year ago and has enjoyed a rapid rise to prominence in the 125-pound weight class, but his decision to start grappling in the championship round was an error that cost him dearly given Pantoja's ground game.

"He is showing that he is elite," Daniel Cormier said on commentary.

"He is ranked 10th in the world, but he is going up against the best fighter in the world and doing really well against Pantoja.

"The kid fought a great fight and if he stayed standing, he might have won."

The 27-year-old will likely hold his spot towards the top of the rankings after lasting 25 minutes with Pantoja, who has been the king of the flyweights for a lengthy period. 

Speaking post-fight, the Perth product known as 'Astro Boy' was emotional and conceded he may have wasted his opportunity to become a UFC title-holder.

"I was surprised how well he can scramble, I usually beat guys there so it was a bit of a shock," Erceg said.

"I thought the third was close enough - he got me down a couple of times and I beat him on the feet. I thought I could get the fifth round ... I just blew it."

Just like in the original Rocky movie, the underdog went the distance but didn't have the class of the champion - but there's reason to believe Erceg and Pantoja will cross paths again and the Aussie will be well-placed to even the leger. 

With the result, Alexander Volkanovski and Robert Whittaker remain the only two Aussies to have won a title with MMA's leading organisation.