The Complete History of the WWE Championship - Part 5

Shawn Michaels (March 31, 1996 - November 17, 1996)

Shawn Michaels: Could not reverse WWE's declining fortunes in 1996

Shawn Michaels was Vince McMahon's shiny new toy in 1996. McMahon had pinned all his hopes on Michaels becoming the leader of his "New Generation" and hoped the flamboyant showman, as opposed to the more serious strait-laced Bret Hart would be the formula to return WWE to it's Hulk Hogan era heyday.

Unfortunately for McMahon, it was his rivals WCW that was enjoying incredible prosperity, with Hogan as it's main man, ironically enough. Hogan would turn heel for the first time in 15 years at the July pay-per-view event, Bash at the Beach, by teaming with Kevin "Diesel" Nash and Scott "Razor Ramon" Hall, who had both left WWE in May 1996 to form the legendary New World Order (nWo) stable.

Michaels in comparison could not compete with the booming business down South. WrestleMania XII, which played host to his long-awaited WWE Championship victory over Hart pulled a disappointing 300,000 pay-per-view buys.

Hart took an eight-month sabbatical following WrestleMania, meaning Michaels had no obstacles in his path as he sought to become the top man in the promotion.

His buddy, Diesel would put him over clean at April's In Your House VII, which did wonders for Michaels's credibility but the box office mojo wasn't there. The event only pulled 150,000 orders. As WCW began making money, hand over fist, WWE's fortunes continued to decline.

During his sabbatical, Hart was offered a massive $2.8 million per annum deal to jump ship to WCW. McMahon was forced to counter with a 20-year contract totaling $1.5 million per annum, double what WWE Champion, Michaels was earning, to retain the services of his former three-time WWE Champion.

With Michaels failing to draw, McMahon could not let Hart go.

Hart returned to the ring and contested a stunner of a bout with the 1996 King of the Ring, Stone Cold Steve Austin at the 1996 Survivor Series while Michaels defended the WWE Championship for the last time versus Sycho Sid.