On Sunday, June 13 at NXT TakeOver: In Your House, LA Knight defeated Cameron Grimes in a ladder match and was crowned the first Million Dollar Champion since 2010.
Prior to the match, LA Knight and Cameron Grimes had been vying for the approval of WWE Hall Of Famer "The Million Dollar Man" Ted DiBiase for several weeks. Both men are affluent, cocky, arrogant guys who are clearly influenced by the WWE legend, who decided to make them compete for his respect at NXT TakeOver: In Your House. To sweeten the pot and give Knight and Grimes something tangible to fight over, DiBiase revived the Million Dollar Championship and declared that it would be up for grabs in a ladder match.
Grimes and Knight fought valiantly, and each man desperately wanted to leave the Capitol Wrestling Center with the Million Dollar Championship belt around his waist. But, ultimately, it was LA Knight who emerged victorious, becoming the first Million Dollar Champion in over a decade.
DiBiase commissioned the Million Dollar Championship in 1989 after several failed attempts to capture the WWF Championship. Since he was unable to win the company's top prize, DiBiase decided to use his cash to create a custom-made championship belt of his very own: The Million Dollar Championship. Ted's custom belt was gold plated, made with cubic zirconia, with three small diamonds on the back. The kayfabe cost of the belt was a whopping but fitting $1,000,000 (although according to WWE executive Bruce Prichard, it actually cost around $50,000).
The Million Dollar Championship was deactivated in 1992 and then reactivated in 1995 when it was awarded to The Ringmaster who would soon evolve into "Stone Cold" Steve Austin. The title was deactivated again in 1996 and wouldn't be seen again in 2010 when DiBiase awarded it to his son Ted DiBiase Jr. Ted DiBiase Jr. returned the championship to his father in November of that year and it subsequently deactivated for the third time.