"That’s something we loved as well, but we can’t do it anymore for a number of reasons. One of the big things people did on a game like “Fight Night” is making Rocky Balboa, or Floyd Mayweather or whatever. But nowadays when people can make YouTube clips and share them, there’s this whole grey area where if our game allows users to make a Rocky character that’s the intellectual property of somebody else, it causes a ton of problems. There is a “Create-A-Fighter” and you could create you own Rocky, but when we are facilitating the sharing of content, it gets very difficult."
source: http://mmajunkie.com/2014/03/ea-sports-ufc-qa-deve...ine-dlc-release-date-and-more/