UFC 107: BJ Penn vs Diego Sanchez booked for Memphis on Dec. 12

UFC Lightweight Champion BJ Penn is set to put his 155-pound title on the line once again, agreeing to face number one division contender Diego Sanchez at UFC 107 from the FedEx Forum in Memphis, Tenn., on Dec. 12.

Company president Dana White recently teased during UFC 102 weekend that the highly anticipated championship match up would likely happen in November, but not on any of the previously announced events on pay-per-view (PPV) or Spike TV.

It appeared that the promotion was on the verge of signing a television deal with a major national network; however, it appears that those plans, at least for now, are once again on pause.

Penn is fresh off a submission win over Kenny Florian at UFC 101 on Aug. 8, solidifying himself as the best lightweight in the UFC ... and perhaps the world.

"Nightmare" will now look to assume that mantle.

Sanchez -- an original winner of The Ultimate Fighter (TUF) -- earned his shot after dropping to lightweight and outpointing Joe Stevenson and Clay Guida, effectively vaulting himself to the top of the number one contender list.

His impressive run at welterweight (8-2) more than likely contributed to finally getting a crack at a world title.

UFC 107 is expected to feature a 205-pound bout between bitter rivals and opposing coaches on the tenth season of The Ultimate Fighter, "Sugar" Rashad Evans and Quinton "Rampage" Jackson, as well as a heavyweight showdown between former champion Frank Mir and Cheick Kongo.

Stay tuned for more updates on this developing fight card. In the meantime, check out the announcement from "The Prodigy" after the jump.

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