Oleksandr Usyk beat Tyson Fury by split decision to be crowned the first undisputed heavyweight champion since Lennox Lewis 25 years ago.
A classic heavyweight fight throughout, this was fast and furious and breathless, a clash befitting two previously undefeated greats.
Fury had the better of the first six rounds, while Usyk recovered remarkably in the latter half, knocking down Fury in the ninth having looked beaten.
A rematch is provisionally slated for October, with both fighters saying they were keen to fight again.
Post-match, Fury said: “Well done. I believe I won that fight, he won a few of the rounds but I won more. His country is at war and they decided to go that way.
“There is a rematch clause and we will be back in October… Like I said, I believe I won the match. We’ll go back to our families and then come back in October.”
But to a soundtrack of Barry White and Bonnie Tyler, Fury was terrifyingly relaxed and jovial pre-fight, dancing into the ring in a Saudi-coloured green and gold get-up.
Meanwhile Usyk emerged in a modern take on Cossack dress, flanked by actor Liev Schreiber, eyes deadened and focus locked.
After a cagey first round the fight opened up, with Fury and Usyk both landing some fierce shots throughout the second and third rounds.
Fury then found his groove through the fourth and fifth, expertly utilising his jab to capitalise on his seven-inch reach advantage.
The 37-year-old landed a brutal uppercut in the sixth, a similar shot to the one which felled Deontay Wilder in their final clash.
But Usyk, badly cut above his eye and appearing to flag, found a sensational second wind, gradually turning the tide before dramatically asserting his newfound dominance in the ninth.
Fury just about survived a 14-punch barrage which had him stumbling around the ring, only keeping himself upright by bouncing from rope to rope.
It was eventually called as a knockdown and he was ultimately saved by the bell.
Usyk’s promoter Alexander Krassyuk said he believed the referee “stole the KO” by calling that stoppage when the fight looked all but won.
But Fury’s ability to rally from there was a truly remarkable exhibition of his mental strength, an unmissable reminder of the resilience and willpower required to fight at this level.
The Englishman quietened the fight in the 10th and the final two rounds were hard to call, leaving the ultimate decision to the three judges.
The two scorecards in Usyk’s favour were 115-112 and 114-113, while the third went 114-113 to Fury.