This is a fairly standard beat down at some event you've never heard of. Girl tries to be sporting, girl's efforts are rebuffed, girl viciously knocks opponent out shortly thereafter.
The knocker-outer is named Veronica Rothenhausler, who evidently has a knack for these quick victories. The knock-outee is Ashlee Evans-Smith, a poor sport who didn't want to touch gloves before getting knocked out.
What makes this particularly enjoyable, though is the studio analysis of the two rejected Goodfellas characters, Kenny Rice and Bas Rutten.
"...She touches gloves there...to her face."