Twenty-eight year old Price, now 12-0 (10) and fighting in his home city was a heavy betting favourite going into the fight but the well-respected McDermott, now 26-8 (17), was expected to provide the sternest test yet for the 2008 Olympic bronze medallist who had been matched relatively easily up to this point in his pro career.
Price, standing at an imposing 6 feet 8 inches weighed in at 246 lbs while McDermott, the shorter man by five inches, tipped the scales at 271 lbs.
McDermott took the early initiative, forcing Price onto the back foot with the jab. McDermott then landed a right hand but was immediately countered with a huge right uppercut from Price which forced the Essex man to the floor after just 24 seconds.
McDermott was up at the count of three and looked fine to carry on, his eyes clear and his legs steady. Again, McDermott went straight on the attack but within ten seconds Price landed a cuffing right to the side of the head and McDermott went to the canvas for a second time.
McDermott was up at seven but this time far from steady on his feet, the shot to the side of the head robbing him of his balance. The fighters moved to the middle of the ring and a quick one-two from Price had McDermott down for the third and final time. McDermott took to his knee, rose at nine (and a half) but referee Howard Foster had seen enough and waved it off.
Price celebrated enthusiastically, immediately realising the impact of his victory which was aired by SkySports at prime-time.
In the post-fight interview, Price was clear in his expectations about what comes next. "Tyson Fury is the champion. He's a fighting man. I know he'll fight me. People are saying he's gonna avoid me [but] I know Tyson Fury will fight me because he's a fighting man and otherwise he's going to look like a bit of a coward."
Price is now the mandatory challenger for Tyson Fury's British title. Whether Team-Fury wants that fight now remains to be seen. It is a big risk-low reward fight for Fury because Price is still a relative novice in the pro ranks and certainly isn't a 'name' outside of the UK. The fight would sell well at the gate but it would undoubtedly be a bigger fight in a year or two and would carry more credibility on the world stage.
But for now, the British Heavyweight division is exciting again. And after 'toe-gate' in Hamburg, that can only be a good thing.