RAW star only seriously threatened to dethrone Roman Reigns once, according to WWE legend

WWE legend Bully Ray has given his take on Austin Theory's multiple threats to cash in his Money in the Bank contract on Roman Reigns.

After winning the Money in the Bank ladder match in July, Theory was guaranteed a title opportunity at a time of his choosing. The 25-year-old repeatedly teased that he planned to challenge for Reigns' Undisputed WWE Universal Championship. However, during last week's RAW, he unsuccessfully cashed in his contract on United States Champion Seth Rollins.

Bully Ray, formerly known as Bubba Ray Dudley in WWE, spoke on Busted Open about Theory's four-month run as Mr. Money in the Bank. He said the young superstar was presented as a viable challenger for Reigns when he interacted with The Tribal Chief's special counsel Paul Heyman:

"He was a threat for a hot second, especially when Paul Heyman was in that backstage promo with him," Bully Ray said. "When I see them dedicating TV time to Paul Heyman in the same shot as Austin Theory, I'm scratching my head and going, 'Hmm…'"

A week on from his disastrous Money in the Bank cash-in, Theory faced Dolph Ziggler on this week's RAW. Although he lost via disqualification, the former United States Champion stood tall after viciously assaulting his opponent post-match.

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The exact moment when Bully Ray thought Austin Theory might beat Roman Reigns

At SummerSlam 2022, Roman Reigns defeated Brock Lesnar in a Last Man Standing match to retain the Undisputed WWE Universal Championship. Theory attempted to cash in his Money in the Bank contract before receiving an F5 from Lesnar.

Bully Ray believes SummerSlam was the only realistic opportunity when WWE's decision-makers could have booked Theory as world champion:

"Now you start thinking to yourself, if there was ever a way, this would be the way. For about a week or so on the show, we talked about Austin Theory possibly coming away as the champion. Other than that, no, I never thought that Austin was going to cash in on Roman Reigns and actually pin Roman Reigns."

Moving forward, Theory looks set to challenge Seth Rollins for the United States Championship. This week's RAW ended with the former Mr. Money in the Bank attacking Rollins.

What do you make of Austin Theory's recent booking? Let us know in the comments section below.

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Please credit Busted Open and give a H/T to Sportskeeda Wrestling for the transcription if you use quotes from this article.