I agree, the penalty should be harsher. Maybe like Macdonald gets the win money (since he won the 185 fight by forfeit) but they fight at catchweight for the purse and chance at sub/KO of the night. That would be a substantial penalty, but we'd still get to see the matchup. It's unfair to Macdonald that Gouevia gets to walk in with a size advantage when he contracted for a fight at 185.
I'm just throwing this out there, maybe this suggestion has a downside I'm not seeing. But I think the 20% penalty is pretty light. Imagine if Liddell had walked in 10 lbs heavy for his fight with Jardine? (I choose this example because I remember Liddell was being paid many times more $$$). He would've had a size advantage, and still made more money to show than Jardine. I'm not saying Chuck would ever do this, it's just an example.
This seems like such a logical solution here. You can't expect the guy who made weight to refuse the fight; it'd be bad for everybody. But at the same time, he's getting punished for doing what he was supposed to do. Whether the overweight guy was a slop, injured, or just miscalculated; he should forfeit the winning purse.
Looking at the Luther/Silva fight, the guy misjudged his weight cut and gassed bad (which he usually does anyway). But the Hughes fight was different, Alves looked like he couldn't make weight and made no valiant effort to do so; so came in above weight at peak cardio. I dont like Hughes, but it was unfair and I don't like giving Alves full credit for that victory (almost to the point, it shouldnt reflect in his professional record). If you're pulling advantage with such a big weight cut (Alves, A Silva, GSP), then you should have to do it.
It'd be nice to say f**k you, I'm not fighting if you dont make weight. But that would not fly and it could destroy a fighters reputation and career, even for a top name.
Penalty is way weak