with open arms on Saturday night ... loudly cheering on the ex-UFC star in his first event since his February arrest.
The action all went down in Tempe, AZ ... where a masked Velasquez participated in a three-on-three wrestling match at Lucha Libre AAA -- and won. The 40-year-old looked sharp -- an impressive feat, considering he was locked behind bars for nearly nine months this year -- throwing around bodies and eventually hitting a crazy finishing move to win it for his team.
Velasquez was exceptionally well received by the audience, getting standing ovations and rounds of applause throughout the night. The former UFC champ grabbed the mic at one point during the festivities and addressed the crowd ... saying it was"a dream come true" to be back in the squared circle."I truly appreciate it all, what you guys have always done, supporting me, my family," he said."Thank you, guys!"
'Rasslin is a fake!' Jim Tom
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