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BJ Penn Wins Knockout of Night at UFC 123

Former two-division UFC champion BJ Penn earned the Knockout of the Night at UFC 123 for his thrilling finish over UFC Hall of Famer Matt Hughes Saturday in Auburn Hills, Mich.

Penn floored Hughes with an overhand right and followed up with punches on the ground to close out the trilogy two-to-one in a mere 21 seconds. The performance bonus will add an additional $80,000 to Penn's final earnings for the fight.

More Coverage: UFC 123 Photos | UFC 123 Results

In Submission of the Night, Phil Davis executed an unorthodox kimura to submit Tim Boetsch at 2:55 of the second round. After the fight, announcer Joe Rogan coined the move "Mr. Wonderful."

For Fight of the Night, George Sotiropoulos and Joe Lauzon each took home a bonus for their pay-per-view opening performance. Sotiropoulos recovered from Lauzon's first-round striking advantage to come back in the second and submit Lauzon with a kimura at two minutes and 43 seconds. At the post-fight press conference, it was announced that Sotiropoulos' next fight will be at home in Sydney, Australia against Germany's Denis Siver at UFC 127 on Feb. 27, 2011.

Each UFC 123 post-fight award winner received $80,000, a number Hughes convinced UFC president Dana White to hand out.

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