Kane's reign with the title was short lived, as he would lose the WWF championship to Stone Cold Steve Austin one night after he won it on June 29, 1998.
When Stone Cold Steve Austin went up against World Wrestling Federation (WWF) owner Vince McMahon, their feud sparked a pro wrestling boom in the United States. Sure, the New World Order (NWO) over in World Championship Wrestling (WCW) had grabbed a lot of people's attention but by 1998, they were fracturing and viewers were turned off by their domination of Monday Nitro for two years straight.
Over in the WWF, though, a fresh product was being presented with a storyline we could all get behind -- disgruntled worker flips his boss the bird and gives him hell at every turn.
Oh hell yeah.
That's what Austin did with old Mr. McMahon week in and week out. Vince didn't approve of his champion's rebellious nature and tried to turn him every which way he could. When that didn't work, he simply set out to destroy him. There was a long storyline involving both Kane and Undertaker where at first it appeared they were working against each other but were later revealed to be in cahoots the entire time.
Well, Kane earned a title match against Austin at King of the Ring and a stipulation was added that all but guaranteed his victory -- it was made a first blood match. This seemed ridiculously silly, seeing as Kane was still wearing a full body suit at that time and his mask still covered his entire face.
It did lead to a cool visual on the go home Raw show where Kane came out and red coloring liquid was dumped all over Austin, who was wearing a white shirt. Kane's final words were, "this Sunday, the blood on you will be for real."
And that's exactly what happened.
During the course of the match, Mankind (who was also involved with the other three) ran in with a chair. He was overwhelmed by Austin but Undertaker came down with a chair of his own. As luck would have it, just as both Austin and 'Taker were about to hit Mankind with their chairs, Mankind ducked and the chairs collided, smacking into Stone Cold's face.
He bladed, Undertaker ended up reviving the referee by dumping gasoline all over him, and once the ref noticed Austin was bleeding, he called for the bell and Kane was the new WWF champion. Seeing as "The Rattlesnake" was as over as he's ever been during this time, the crowd chanted "BULL-SHIT" after the match and went home unhappy.
All was forgiven the next night on Raw, however, as Stone Cold was given an immediate rematch and on this date in WWF history (June 29, 1998) he won the title back in the main event. For good measure, he stunned the Undertaker on his way out of the building.
Watch it all go down after the jump.