Dean Malenko
The event featured an eight-man tournament for the vacant championship. The tournament began with Dean Malenko defeating the Japanese wrestler Osamu Nishimura by submission using a standing figure-four leglock, followed by 911 squashing the surprise wild card entrant, Doink the Clown, with a series of chokeslams. Shane Douglas, the-then ECW Heavyweight Champion, pinned the Tazmaniac with a roll-up, followed by 2 Cold Scorpio defeating Chris Benoit in an "aerial showcase" by reversing Benoit's superplex into a small package. In the semi-finals, 2 Cold Scorpio defeated 911 by count-out after 911 was distracted by Douglas (disguised as Doink the Clown), while Douglas pinned Dean Malenko following two piledrivers. In the final bout of the tournament, Douglas pinned 2 Cold Scorpio following a belly-to-belly suplex.