The third man in the ring in the main event at UFC 202 said both guys fought like champions and that there really was no loser.
In an interview with Ultimate MMA, McCarthy talked about how he saw the fight between Diaz and McGregor.
"Just an incredible performance by two guys," McCarthy said. "There was no loser. Neither guy lost. The time ran out."
"I thought both of them put on just an incredible performance."
The iconic referee said one of the things he hates about a close fight like that was that a winner has to be declared.
"Nate didn't lose the fight," McCarthy said. "The time ran out in the fight."
McCarthy said he also scored the fight 48-47 for McGregor, and despite some fan comments, neither fighter scored a 10-8 round. He said McGregor never had Diaz in trouble and Diaz was never close enough to finishing McGregor to score a 10-8 round. Even though Diaz dominated the last part of Round 3, McCarthy said McGregor still had something left.
"No, I was not close to stopping it, because Conor was aware of what he was doing," McCarthy said. "Conor got hit with some shots and he was blocking a lot. He did a good job. He was tired."
McCarthy said Diaz was in control of the fight -- but only in spurts -- 30 to 45 seconds at a time.
"If the fight went on, it could have been a different story in the end," McCarthy said.