TMZ Sports has obtained video showing Colby Covington just moments after he allegedly fought with Jorge Masvidal outside of a Miami hotspot ... and you can see the UFC star was surrounded by cops.
The footage was shot at around 11:30 p.m. ET ... roughly half an hour after sources tell us Covington and Masvidal got into a physical altercation outside of Papi Steak in Miami Beach.
Colby ate dinner on Monday night with the Nelk Boys inside of the restaurant -- and we're told Masvidal did NOT eat at the restaurant.