This is the best way to sort out the current mess happening in the division. This is possibly the most stacked division in the UFC. With Max Holloway, and Aldo showing interest in moving up, there is just so much potential.
Champ: Khabib
1: Ferguson
2: McGregor
3: Poirier
4: Iaquinta
5: Lee
6: Barboza
7: Gaethje
8: Pettis
9: Cerrone
10: Felder
11: Gillespie
12: Hernandez
13: Diaz
14: Vick
15: Charles Oliveira
Just looking at the champ, and top 15 you can see so many great potential matchups, and then there are the guys like Hollawy and Aldo that could potentially come up. In a 16 man tounament, it could be awesome.
I woould still give Tony the first shot at Khabib as I feel he has earned it.
Here are the fights I would make for the first round if I could(some are already being rumored)
Khabib vs Ferguson
McGregor vs Cerrone
Poirier vs Aldo
Lee vs Oliveira
Barboza vs Gaethje
Felder vs Hernandez
Pettis vs Gillespie
Holloway vs Diaz
The best part is there are still a pile of great fighters that could easily step in if anyone gets injured.
Lightweight is stacked.