After more than a decade away from WWE television, Ted DiBiase appeared on NXT and introduced a whole new generation of fans to the Million Dollar Championship. A title he created more than 30 years ago that has appeared sporadically ever since. The history of the title is more brief than rich, but it does date back a long way. Here's everything you need to know about the Million Dollar Championship before the title is awarded to a brand new owner this Sunday at NXT TakeOver: In Your House.
Born Out Of Frustration
Despite his legacy and Hall of Fame status, DiBiase was never WWE Champion. At least not officially. When Andre the Giant defeated Hulk Hogan for the title in 1988, he immediately handed it off to DiBiase. Everyone has a price after all. Despite DiBiase being announced as WWE Champion, company president Jack Tunney deemed that Andre had vacated the title and therefore DiBiase's reign is not recognized. DiBiase missed the chance to officially become champion by losing to Randy Savage in the finals of a WWE Title tournament later that year.
One year later, having grown tired of failing to officially become WWE Champion, DiBiase created his own title. The Million Dollar Championship. The title has a gold plated strap and three dollar signs encrusted in cubic zirconia. There are also three real diamonds on the back. Despite DiBiase's claims on-screen that the title is worth $1 million, it actually cost somewhere in the region of $50,000 to make.
Not only did WWE not recognize DiBiase's title, but The Million Dollar Man would also defend it very rarely. It took somebody stealing it from him before he would technically lose it for the first time. That man was Jake Roberts. Again using his money to solve a problem, DiBiase hired Big Boss Man to help him get the title back. DiBiase's bragging about how he bought Boss Man rubbed his hired hand the wrong way, prompting him to take the title from DiBiase and return it to Roberts.
Virgil Rebels
For a large part of DiBiase's WWE career, The Million Dollar Man was followed around by Virgil. Virgil was effectively DiBiase's servant, until one day he became sick of his position. The former bodyguard turned on DiBiase and challenged him to a match for the Million Dollar Championship at SummerSlam 1991. Virgil won that match, making him the first man other than DiBiase to officially hold the Million Dollar Title.
Virgil's time with the title would come to an end later that same year. He lost the championship back to DiBiase at Survivor Series. In typical Million Dollar Man fashion, DiBiase needed help to get the job done. Since the man who would usually do his dirty work for him was his opponent in this instance, DiBiase managed to find the Repo Man's price, hiring him to help win back the gold. DiBiase would retire the title for the first time after winning tag team gold a few months after that.
The Protege And The Million Dollar Son
After almost four years on the shelf, DiBiase would reinstate the Million Dollar Title. Not for himself, but for his new protege The Ringmaster. In case you didn't know, The Ringmaster was Steve Austin before he became Stone Cold. The title's return was short-lived. Austin's loss to Savio Vega in May of 1996 meant DiBiase had to leave WWE, and he took the title with him.
Other than the odd appearance on Raw and when he brought it out during his HoF induction, DiBiase's self-made title remained in the shadows for well over a decade. WWE then used Ted DiBiase Jr, The Million Dollar Man's real-life son, to bring the title back for the third time. DiBiase Jr. claimed his father had bestowed the title upon him, making him the fourth, and at this point final, person to have ever held the championship. Much like Roberts years before, Goldust would steal the title. It would eventually be returned to its original owner, and when DiBiase tried to return it to his son, DiBiase Jr. refused to take it.
Champion Number Five
After 11 more years in the dark, the Million Dollar Championship is set to return yet again, more than 30 years after it was created. DiBiase revealed it on NXT, informing Cameron Grimes and LA Knight that the two of them will be competing for it at TakeOver: In Your House. The first man to climb the ladder and unhook the belt will become the fifth person in that 32-year history to hold DiBiase's Million Dollar Championship.
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