The Million Dollar Championship was a professional wrestling championship in the American promotion WWE. The title was originally introduced in 1989 by "The Million Dollar Man" Ted DiBiase, who was unable to win or purchase the WWF Championship (now WWE Championship). In storyline, the title was an unsanctioned championship that DiBiase rarely defended. After DiBiase and Irwin R. Schyster won the WWF Tag Team Championship in 1992, the Million Dollar Championship was abandoned.
The title has since been revived on three occasions. The first was in 1996 for DiBiase's protégé, The Ringmaster, who shortly after became Stone Cold Steve Austin, but the title was abandoned after DiBiase left the promotion a few months later. In 2010, the title was revived for DiBiase's son, Ted DiBiase Jr., but was again abandoned later that same year when DiBiase Jr. returned the title to his father. The third revival came in 2021 for the NXT brand division for a storyline between DiBiase, Cameron Grimes, and LA Knight. During this time, the title was officially recognized by WWE; however, it was deactivated in August of that year when Grimes, who won the title, gave it back to DiBiase.
History
Introduction
Ted DiBiase, known as "The Million Dollar Man", was unable to win the WWF Championship (now WWE Championship), having lost the final match of the WWF Championship tournament at WrestleMania IV to "Macho Man" Randy Savage. During the Summer of 1988, DiBiase teamed with André the Giant, in a team known as "The Mega Bucks", while chasing the WWF Championship. Still unable to win the title, a frustrated DiBiase decided that if he could not win or buy the WWF Championship, he would purchase his own belt. In 1989, DiBiase unveiled a new championship belt, which he called the Million Dollar Championship. This championship was not officially sanctioned by the World Wrestling Federation (WWF), and DiBiase would rarely put his "championship" on the line in matches.
In early 1990, Jake "The Snake" Roberts stole the belt during his feud with DiBiase. This also led to a face turn for the Big Boss Man, who resented his manager Slick selling his services to DiBiase in order to retrieve the belt from Roberts. After attacking Roberts and stealing the bag containing the belt and Roberts' pet python named Damien, DiBiase, the Boss Man, and Slick headed for "The Brother Love Show" where DiBiase bragged about buying the Boss Man's services. The Boss Man then told both Slick and DiBiase that he could not be bought and immediately returned the bag to Roberts, who had been left handcuffed to the ring ropes. The Boss Man then released Roberts, walked back to the Brother Love set, pushed Slick, and again told an irate DiBiase that he could not be bought before walking off to the cheers of the crowd, cementing his face turn. DiBiase had his bodyguard Virgil get the belt back from Roberts at WrestleMania VI after Roberts was counted out during their match at the SkyDome.
In 1991, DiBiase's bodyguard Virgil rebelled, turned face, and trained with "Rowdy" Roddy Piper to challenge DiBiase at SummerSlam for the Million Dollar Championship. Virgil won the match, however, DiBiase regained the championship with the help of Repo Man at Survivor Series Showdown. When DiBiase and Irwin R. Schyster won the WWF Tag Team Championship on February 7, 1992, DiBiase abandoned the Million Dollar Championship.
First revival
Ted DiBiase would later go on to award the championship to his newest protégé, The Ringmaster, on his arrival in the WWF in January 1996 (pre-taped in December 1995). The Ringmaster would shortly after become known as Stone Cold Steve Austin. After Austin lost a match against Savio Vega on May 28, 1996, DiBiase was (kayfabe) forced to leave the WWF, thus the Million Dollar Championship was again abandoned.