Vince McMahon's music hits and we're off! McMahon heads to the ring in a horrendous suit with John Laurinaitis. The locker room is shown backstage watching on a monitor. A "CM Punk" chant breaks out. McMahon says that he will never say Punk's name, and that fans are chanting for a man who walked out on them and is the biggest ingrate he's ever seen. Vince says there is no one man who is bigger than WWE, not Hogan, Bret, Rock or Austin, and WWE is a global promotional juggernaut that cannot be stopped, and tonight there will be an 8 man tournament to crown a new WWE Champion. Rey Mysterio will face Dolph Ziggler, Jack Swagger will face R-Truth, Kofi Kingston will face Alberto Del Rio and Alex Riley will face The Miz in tournament matches.
McMahon brings up John Cena not being in the tournament. McMahon said he warned Cena that there would be severe consequences, and there will be severe consequences and tonight will be a night that we will always remember. He then thanked everyone for coming.
Michael Cole brings up that John Cena already believes he's been fired, and quotes his Tweet from earlier.
The Miz's music hits and he heads to the ring.
The Miz vs. Alex Riley
Good back-and-forth match. Riley got distracted for a second after Miz touched the referee, allowing Miz to hit the skull crushing finale to get the pin and advance in the tournament.
R-Truth is shown in the back walking to the ring.
A video package of John Morrison is shown, who is returning soon.
Jack Swagger vs. R-Truth
Some "Little Jimmy" chants from the crowd. R-Truth got the victory after Jack Swagger went for an ankle lock, and Truth rolled through and got the pin. Kingston vs. Del Rio is next.
Alberto Del Rio vs. Kofi Kingston
Del Rio takes the mic and says that everything that is happening is because of John Cena, and he hopes that Cena gets fired. Del Rio says WWE needs a new top star, and it's him since it's his destiny. Del Rio's music hits and Ricardo Rodriguez comes out with mic in hand and introduces Del Rio.
Kingston won the match clean after Del Rio went for an arm bar, but Kingston wiggled out and rolled Del Rio up for the three count.
Rey Mysterio is shown walking to the ring, he faces Dolph Ziggler next.
A video is shown of the classic Davey Boy Smith - Bret Hart match from SummerSlam.
Kofi is interviewed backstage and says that although he came up short last night, today is a new day and he took the first step to becoming the new WWE Champion. "One down, two to go. Boom!"
Rey Mysterio's music hits.
Rey Mysterio vs. Dolph Ziggler
Mysterio pinned Ziggler clean with a 619 and splash from the top rope to advance to the semi-finals.
McMahon is shown backstage talking with John Laurinaitis as we head to commercial.
Kelly Kelly's music hits and a 7-on-7 Divas match is up next.
All the Divas started fighting outside the ring, and Beth Phoenix hit Mendes with her finisher to win the match for the babyfaces.
The Miz vs. Kofi Kingston in the semi-finals is up next.
The Miz vs. Kofi Kingston
Miz advanced to the finals after pinning Kofi. Kofi charged at Miz in the corner, but Miz dodged and then hit Kofi with the skull crushing finale to get the win.
R-Truth is interviewed backstage and says that he deserves to be WWE Champion more than anyone in this tournament. He says the title "is gonna get got," and he faces Mysterio next.
A video package on Tough Enough winner Andy Leavine aired.
Rey Mysterio vs. The Miz
Good match with lots of near falls. Mysterio got the win and advances to the finals after hitting Truth with a 619/top rope splash to get the win. Mysterio is going to remain in the ring and we'll have The Miz vs. Mysterio after commercial.
Randy Orton vs. Kane in a street fight is announced for SmackDown.
Before the Miz is introduced, Vince McMahon makes his way to the ring. He says that he's not denying Mysterio and Miz the chance to become WWE champion, but they are running out of time and the finals will take place next week. Mysterio reluctantly leaves the ring.
McMahon reiterates that no one is bigger than WWE, and he can make a new John Cena. He thanks Cena for his contributions, but says that you sometimes have to make an example out of somebody. He says it's a business thing, not an ego thing. He says in time, he'll be thanked. Loud "CM Punk" chant from the crowd. McMahon says that as much as he'd like not to have to do this, "let's get this over with." Cena's music hits and he heads to the ring.
Cena hits the ring and grabs the mic from Vince. He says he's not going to talk bad about him or the company, and he knows what Vince is about to do and that's fine because he doesn't want to have to go through what Shawn Michaels went through. He said that despite all of Michaels' accomplishments, HBK is always remembered for screwing Bret, and he didn't want to do that. He said he didn't want to demean the title.
Cena says that Vince can find another opponent for The Rock at Mania next year, while he gets to leave with his dignity. Cena says that he loves the WWE and truly believes that he belongs here. Cena says that he loves this, and if he's getting fired, he'll walk on someone else's TV show "BROTHER." Cena says that he never kissed Vince's ass and is about to walk off.
Vince stops Cena and says that as much as it hurts him... then Triple H's music hits and he comes out wearing a suit.
HHH whispers something in Vince's ear, and Vince introduces his son-in-law, Triple H. Triple H takes the mic, and says that he's sorry he's late but there was a board of directors meeting this morning. He says that The Board is concerned about the current situation and asks Vince to talk about this in the back, but Vince declines. He says that the Board is concerned about Vince's decisions as of late, even though they appreciate his accomplishments.
Triple H says that the Board has filed a "no confidence" injunction on him, and "the family agrees." He says that the Board has appointed someone to take over the day-to-day operations of the WWE and it's him. Vince started to tear up. Triple H said that Vince is not going to fire John Cena or do anything else. Cena celebrates and heads to the back.
Triple H gets emotional and says that Vince taught him that no one is bigger than this business, and with all due respect, he's there to inform him that he is relieved of his duties. Vince is crying and Triple H is looking down as the crowd sings "Na Na Na Na, Hey Hey Hey, Goodbye." Triple H is crying and says that he did not want to do this, but he's doing what's right for the business and says "I love you pop, and I'm sorry."
The fans give Vince a hand as he cries in the ring, with a "Thank you Vince" chant going as the show went off of the air.