I think cheerleaders would be a bit much. I think they got it right as is.

I am not sure if you ever watched wrestling but something like the WCW nitro girls for entertainment to the live crowd might be a good idea especially when an event is filled with early TKO/KO's. They can entertain the crowed for 10 -15 minutes so the event doesn't go as quickly and the fans don't get restless waiting for the next match.