As is tradition during UFC fight week, the major players of UFC 121 are about to assemble for a public press conference at the Walt Disney Concert Hall in Los Angeles. Beginning at 5 p.m. ET / 2 p.m. PT, Brock Lesnar, Cain Velasquez, Jake Shields, Martin Kampmann, Tito Ortiz, Matt Hamill, and Dana White will be fielding questions from the media. You can watch the proceedings in the UFC’s media player, which is waiting for you after the jump. And if you need any more help in getting hyped up for this event, be advised that Spike TV will be airing UFC 116: Lesnar vs. Carwin tonight at 7 p.m., followed by the third and final episode of UFC Primetime: Lesnar vs. Velasquez at 9:30 p.m. 

(One more round for old time’s sake?)

Though Dana White was hoping he could announce the signing of Fedor Emelianenko at this afternoon’s much-anticipated UFC press conference, it was not meant to be. DW said he did everything he could possibly do to get Emelianenko into the Octagon and offered him an "amazing" deal, but M-1′s dogged desire for co-promotion sunk the negotiations, which made Dana "fucking miserable." Still, there were some major announcements to share, which are sure to get MMA fans talking:

— UFC 103‘s main event has been thankfully changed to Rich Franklin vs. Vitor Belfort. The match will be contested at light-heavyweight. Dan Henderson will likely get the next crack at Anderson Silva‘s middleweight belt, possibly followed by the winner of the Nate Marquardt/Demian Maia match at UFC 102.

— Tito Ortiz (remember that guy?) is back in the UFC, and plans to fight before the end of the year. Mark Coleman has been named as a possible opponent.