One of the mixed martial arts' top leagues is holding its 2019 world championship on New Year's Eve at the Hulu Theater at Madison Square Garden.

"Before the ball drops, this is part of a new tradition of this holiday," Professional Fighters League CEO Peter Murray told FOX Business' Cheryl Casone on Tuesday. "No different than the NFL has done a great job owning Thanksgiving, the NBA on Christmas, [and New Year's Day] bowl games in the college space. It's great to end the year with sporting events."

Murray called the six world title fights in one night with $6 million up for grabs "unprecedented."