UK light-heavyweight Joshua Buatsi secured a victory yet underwhelming beginning to his career under new promoters with a points victory over Parker in the Manchester arena.
The Olympic bronze medallist's work rate appeared to earn him a majority decision in a tight ten-round contest at the Co-op Live Arena.
But Parker had his moments, landing some telling individual punches in a fight where the techniques failed to mesh, with constant grabbing marring the contest.
The scoring judges scored it 96-94 in favor to Buatsi, with the remaining official a 95-95 draw.
"It wasn't my finest display but what do champions do? They succeed," the victor stated in the ringside as he was faced negative reactions from the audience.
The British fighter returned to winning ways after his first professional defeat - an thrilling contest with his previous opponent in last winter - to earn a twentieth professional win.
Several boxing experts thought Parker, 31, should have been awarded the win but the Derbyshire fighter suffered the second defeat of his 28-match professional journey.
The Champion Claims Win in Slow Affair
His career development has slowed in the past few years through contract problems and long spells of lack of fights.
Once tipped as the rising talent of British boxing, he now finds himself trying to realize his potential - maybe in what seems like a last chance - under fresh management.
He opened tentatively, with neither fighter ready to be aggressive in a tentative early stages.
The challenger, whose only previous defeat came at the lower weight class against his former opponent in two years ago after suffering a hand injury during the bout, was participating in his second bout at light heavyweight.
By the fight's midpoint, the underdog had kept it close, making life awkward for the favorite, who operated with a protective stance to edge the more effective stanzas.
The crowd's patience diminished amid frequent holding, with Parker going down various instances during grappling.
Parker finished the stronger, but many rounds were difficult to score. Although, ex-champion the boxing analyst - commentating on Dazn - had it significantly in favor for Parker, giving Buatsi just one round.
The victor progresses, but with the presence of hard hitter Benavidez, and Eastern European fighter Dmitry Bivol dominating the weight class, the road to world glory - judging by this showing - still appears challenging.
Hatton Memorial Inspires Manchester Derby Fight
In the supporting bout, Arthur beat Rea by split-decision in a outstanding Manchester vs Manchester fight to secure the European light heavyweight title.
The venue fell silent for a deeply poignant homage before the fight as a bell ceremony sounded in honor of local hero Hatton, who passed away 46 years old in last month.
It was the initial significant broadcast match card in the urban center since the passing of Hatton. As the concluding sound ended, the stillness became a roar of "there's just one Ricky Hatton".
The action inside the ropes matched the sentiment. The eventual winner was knocked down by a powerful punch directly to the chin in the initial stage, getting up unsteadily to his footing on the referee's count.
But the traditional red equipment of the fighter soon came forward again. On the opposite side, Rea - in competitive blue - was marked up quickly, noticeable damage forming under his eye as the pair exchanged punishing blows.
The challenger, twenty-seven, landed power punches but Arthur, 34, responded in kind with effective uppercuts as the action rarely dropped over twelve rounds.
The victor edged the decision with scoring tallies of even score, narrow lead and 115-112, but both fighters were determined and full of heart, everything their inspiration Hatton stood for.
