The UFC recently revealed a brand new title belt design for its fighters. Not to mention, some new traditions coming along with it as well. UFC flyweight champion Henry Cejudo was the first fighter to wear the new belt design. He had the title wrapped around his waist after defeating TJ Dillashaw in his first-ever title defense earlier this month.

There are mixed reviews about the new title, with some liking the new design, and some trashing it on social media. However, former UFC middleweight champion Michael Bisping might have just hinted at why the promotion decided to make the change.

Speaking on a recent episode of his podcast, Bisping said Rashad Evans once told him that Dana White mentioned it cost $300,000 to make a new UFC belt of the old design (via Fightful):

“Rashad Evans, former champion, has a belt at home,” Bisping said. “He was having a conversation with Dana White, Dana White told him that the old belts, the ones that we have are worth $300,000 each.

“That’s what Dana White told Rashad Evans. Mine’s just been gathering dust back there. There’s another one in the other room just gathering dust, if I’d known they were worth $600,000 between them I might get them insured for one and then they get stolen … I’m joking.

“I might at least put them in some kind of case and keep the dust off of them. Apparently Rashad Evans swears they’re worth $300,000 apiece. Which yeah, I was happy. That’s good to know.”

It’s unknown how much it costs to make the new design, however, champions will no longer be receiving a brand new title for every successful title defense. That was the old tradition with the previous design, which is likely why the UFC decided to change things up, instead of continuing to pay $300,000 each time a title fight happens.

Now, defending champions will receive a new stone on the title plates. Check out below for more information on that:

Check out the new editions to the UFC Legacy Belt ? pic.twitter.com/2pSDoMpaiv — UFC (@ufc) January 18, 2019

Do you think cost played a factor in the UFC designing a new title belt?