I don't think the UFC is in trouble at all. Having said that though they really need to add a major network. Spike has been great and there is no reason to deprive them.
In my mind, this would be the smartest thing to do.
Ultimate Fight Nights and TUF Finales - Spike TV
Title Fight Events - Pay Per Views
Non title fight Events - NBC, CBS, FOX, or ABC. This would do wonders for their ratings and exposure.