March 27, 1988, at the Historic Atlantic City Convention Hall in Atlantic City, New Jersey
Blindsided by a nefarious plot including a paid off twin, Hogan lost his world title in controversial fashion to Andre forcing WWF president Jack Tunney to declare the title vacant. A new champion would be crowned in a 16-man tournament at Wrestlemania.
Thanks to the continued schemes of The Million Dollar Man Ted DiBiase, Hulk Hogan was robbed of his opportunity to regain the title in a semifinal match against his hated rival Andre the Giant. When the dust settled, it came down to Hogan’s best friend ‘Macho Man’ Randy Savage and DiBiase, accompanied to the ring by Andre the Giant.
With the Giant’s interference becoming too much, Savage had his manager Elizabeth call out his secret weapon, who got some long awaited payback on the Million Dollar Man, which helped the Macho Man gain his first WWF title.
The MegaPowers explode!!! The vaunted MegaPowers alliance couldn’t endure as ego and paranoia destroyed the unbeatable duo. Now prepared to resume his rivalry with the Macho Man, Hogan stepped into the ring in the unfamiliar role as challenger as he sought to regain the title he hadn’t held in over a year. The MegaPowers exploded, but Hulkamania again proved to be the most dominant force in the WWF.
After encountering a force with the strength, presence and charisma to rival that of Hulkamania itself Hulk Hogan issued The Ultimate Challenge to Intercontinental Champion, The Ultimate Warrior in a title vs title match.
To the astonishment of over 67,000, the Ultimate Warrior did what no man had done in six years – cleanly pin Hogan to capture the WWF world title. Beaten, but determined to be gracious even in defeat, Hogan presented his former title to his conqueror signaling the start of a new dominant champion in the WWF.