According to MMAJunkie.com, a welterweight bout between UFC hall of famer Matt Hughes and Diego Sanchez is scheduled for a soon-to be announced UFC event, expected to be held in the fall of this year. 

"A matchup between two welterweight fan favorites has been verbally agreed to as Diego 'The Dream' Sanchez will face former UFC welterweight champion and Hall of Famer Matt Hughes," UFC president Dana White said. 

Since transitioning to welterweight last year, Sanchez has had a comfortable run at 170lbs.

His debut saw him lose to John Hathaway but he has since rebounded with two consecutive wins, earning victories over Paulo Thiago and Martin Kampmann.

Sanchez will now meet Matt Hughes in what is sure to be an intriguing matchup.

Hughes has enjoyed a considerable run at welterweight since his loss to Thiago Alves in 2008. Since then he has picked up three straight victories over Matt Serra, Renzo Gracie and Ricardo Almeida.

Hughes has not fought since UFC 123 last year, after suffering a knockout loss to BJ Penn.