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Weidman, 36, defeated Hall by a first-round TKO win in their initial encounter at Ring of Combat 31 in 2010.
Weidman's right tibia and fibula shattered on contact as he lost his balance before crumbling to the octagon mat in agony.
Referee Herb Dean immediately stopped the clash and awarded Hall a first-round TKO win.
UFC 261 was believed to have had 15,000 people in attendance at the VyStar Veterans Memorial Arena in Jacksonville, Florida.
And those MMA fans in attendance at the venue were left in disbelief at Weidman's shocking leg break as footage from the fight made the rounds on social media.
Speaking after the fight, Hall delivered an emotional interview as he admitted he has "nothing but respect" for Weidman and branded him "truly one of the best."
The 36-year-old UFC fighter said: "I got nothing but respect for Chris Weidman, he is truly one of the best.
"It is a crazy story that he was the first man that I fought that defeated me and introduced me to fear.
"I didn't know what fear was, I was scared of wrestling.
"And during that time, we went down different paths. He was the first one that defeated Anderson [Silva], I was the last.
"And it was just crazy how we ended up here again. I wanted to put out a great performance.
"But man, I feel so bad for him. I hope he's okay. I wish his family well if you guys are watching.
"It's a sucky part of the sport, it's the hurt business. And believe me, they don't see the fight outside of the octagon.
"I got nothing bad to say about him and I hope he recovers.
"And hey, whatever rank I am in the future, if he gets well I owe him this fight. And I hope he can come back from it."
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