Former world champion Sergey Lipinets (15-1, 11 KOs) stopped former two-division champion Lamont Peterson (35-5-1, 17 KOs)in round 10 Sunday night in an action-packed welterweight showdown that headlined Premier Boxing Champions on FS1 and FOX Deportes from MGM National Harbor in Maryland.

"I feel great about the statement I made to the welterweight division," said Lipinets. "I just fought an excellent fighter. This let me know where I'm at in the 147-pound weight class. I went into deep waters and showed that I belong."

The fight featured near non-stop action and a thrilling finish, already earning Fight of the Year buzz after its' conclusion. Peterson only occasionally retreated in defense for a moment or two while Lipinets was determined to close off the distance, making sure he didn't let Peterson use his reach advantage, while using his own varied attack on the inside to occasional success.

"You can see that I have no problem with the size," said Lipinets. "Peterson is an excellent fighter with unbelievable skills and he's showed me what I can really do."

Peterson was dedicated to attacking the body, punctuating numerous combinations with vicious left hooks to the midsection. He was the busier fighter but was still taking shots from Lipinets' combination of hooks, uppercuts and body shots. Eventually one of those shots appeared to change the tide of the fight, when a straight right from Lipinets connected and clearly hurt Peterson.

The counter put Peterson on his back foot and in survival mode for the final minute of the eighth round until hearing the bell. With the momentum sharply turning toward Lipinets through round nine and midway through round 10, Lipinets finally landed a sweeping left hook during an exchange that hurt Peterson and signaled that the end was near.

Lipinets followed up and put Peterson on the canvas as the towel came in from Peterson's corner, stopping the fight at 2:59 of round 10.

The exciting action fight featured both fighters throwing a career high number of punches, according to CompuBox. Both fighters landed a nearly identical number of power punches (189-188 for Peterson), with Lipinets landing 23 in each of the final two rounds.

"You've seen what I did at 140-pounds and now what I can do here," said Lipinets. "I made a big jump in competition from my last fight to this one. My new trainer Joe Goossen gets all the credit. We've had an excellent camp with perfect sparring that taught me a lot and got me ready for tonight."

"There were no easy days in our gym for training camp," said Goossen. "I feel like we clicked together and he got the best out of me because he was so agreeable to my methods and the way I pushed him.

"I thought Sergey's defense was very good tonight. His jab worked good and he put real pressure on. The left uppercut was a good shot for him and he used a variety of punches in this fight to get it done."

After the fight. Peterson, along with lifelong trainer and fellow Washington, D.C.-native Barry Hunter, announced his retirement from boxing in front of his hometown fans after a career that saw him win titles at 140 and 147-pounds.