Anthony Pettis drops to featherweight, fights Charles Oliveira on Aug. 27 in Vancouver

Former Ultimate Fighting Championship (UFC) lightweight titleholder Anthony Pettis will make his long-teased featherweight debut against jiu-jitsu wunderkind Charles Oliveira at the upcoming UFC on FOX 21 mixed martial arts (MMA) event, scheduled for Aug. 27, 2016 in Vancouver, British Columbia, Canada.

FOX Sports brought word of the pending showdown on Wednesday.

Pettis (18-5) was riding high as lightweight kingpin thanks to a five-fight winning streak, one that included four consecutive finishes. Then came a lopsided loss to Rafael dos Anjos at UFC 185, followed by another two goose eggs opposite Eddie Alvarez and Edson Barboza.

Must win?

Oliveira (21-5) also set sail for lighter waters after getting knocked around in the 155-pound division. While he didn't get off to the hottest of starts, "Do Bronx" has now won five of his last six, including his submission victory over Myles Jury at UFC on FOX 17 last December.

Fun fight ... who ya' got?

Expect more fight card announcements for UFC on FOX 21, which also features a middleweight match up between Garreth McLellan and Alessio Di Chirico, to be announced in the coming weeks.

Stay tuned.