The president of UFC, Dana White, doesn't like EA, and, honestly, who can blame him? He says of EA, "They wouldn't even take a meeting because mixed martial arts disgusted them. This wasn't a real sport. Boy, they got over that real quick, didn't they?"
He is so committed to keeping his franchise and the EA franchise separate that he has threatened to ban any UFC fighter who appears in EA's MMA. That having been said, if the game is good enough, would it matter if there were real, recognizable fighters to choose from or generic made-up EA characters? Or would it be like Madden vs All Pro Football, where the fun is in playing real teams with real players?