Anthony Joshua lost his world titles for the second time in four fights as Oleksandr Usyk was crowned heavyweight champion.
Favourite Joshua was on the back foot from the opening bell as Usyk made a fast start to his attempt to become a two-weight world champion.
And the Ukrainian had his rival in trouble at several points in the fight – and almost stopped him in the dying seconds with Joshua finishing the bout backed up on the ropes.
All three judges then awarded the fight to Usyk by scores of 117-112, 116-112 and 115-113.
Joshua was defending his three world titles for the second time since snatching them back from Andy Ruiz Jr two years ago.
He had been out the ring since stopping Kubrat Pulev last Christmas – and had been poised to fight fellow world champion Tyson Fury this summer.