hold the ring

verb4

1. •
   (UK) To oversee a situation while attempting to remain uninvolved in it.

   • Police held the ring during the protests.
2. •
   To be a spectator at a fight; (figuratively) to watch other people argue.
3. •
   Of a prizefighter: to hold one's own during a fight; to continue winning a series of fights.
4. •
   (no longer used) To maintain order among spectators encircling participants in a prizefight or a performance and keep them from coming too near the participants.