News 1130 (via MMA Frenzy) is reporting that Chuck Liddell vs. Tito Ortiz III could be on tap to headline the UFC's inaugural Vancouver show.

The City of Vancouver just passed MMA regulation at the end of December. During the legal process Zuffa hinted at bringing the UFC to Vancouver in 2010. Vancouver was rewarded for passing MMA legislation with UFC 115 being scheduled for June 12th.

Chuck Liddell and Tito Ortiz are currently scheduled to coach the eleventh season of The Ultimate Fighter. The latest season of the show is expected to debut in March of 2010. 

Both fighters recently underwent long sabbaticals from the UFC. Tito Ortiz's contract expired in 2008 and he spent that time as a free agent, flirting with several promotions. In the end Ortiz re-singed with the UFC and fought a rematch with Forrest Griffin at UFC 106.

Chuck Liddell hasn't fought since losing to "Shogun" Rua in April of 2009; dropping Liddell to 1-4 in his past five fights. In the aftermath of that fight Dana White essentially announced the retirement of Chuck. However, Liddell decided he wanted to fight. 

Ortiz and Liddell have fought twice before with Liddell winning both fights via TKO. Their last meeting, at UFC 66 in December 2006, is the second most bought pay-per view in UFC history.

Update: The fight has been confirmed for UFC 115 in Vancouver, Canada.