[1] The event is best remembered for Hulk Hogan's heel turn and the formation of the New World Order (nWo), which contributed greatly to the success of WCW in the mid-to-late 1990s.

[2] The main event was a tag team match between The Outsiders (Kevin Nash and Scott Hall) and their mystery partner (revealed to be Hulk Hogan), and Macho Man Randy Savage, Sting and Lex Luger.

[5] The predominant storyline heading into the event was centered on The Outsiders (Scott Hall and Kevin Nash).

[6][8] The following night on WCW Monday Nitro, a random drawing occurred and Randy Savage, Sting, and Lex Luger were chosen to face The Outsiders.

[6][7] Before the event officially began, Jim Powers defeated Hugh Morrus in a dark match.

Psychosis then applied the hammerlock, which Misterio countered with a snapmare, and kept the advantage by performing several aerial moves.

Attached to one of the ringposts by straps was a tall steel pole, with a sock of silver coins hanging from the top.

Inferno fought back with punches, a flapjack onto the top rope, and a forward Russian legsweep.

Malenko performed a springboard dropkick and attempted the Texas Cloverleaf, but Inferno reversed it into an inside cradle.

Malenko finally performed a double underhook powerbomb and applied the Texas Cloverleaf to win by submission and retain his title.

McMichael then targeted Gomez's back, performing a pendulum backbreaker and applying the camel clutch.

[3] The seventh match was between Ric Flair, accompanied by Miss Elizabeth and Woman, and Konnan for the WCW United States Heavyweight Championship.

After using an illegal eye poke, Flair distracted the referee, allowing Woman to perform a low blow on Konnan.

Flair then pinned Konnan with both feet on the top rope for leverage to win the match and the title.

Benoit and Anderson continued to attack The Taskmaster for the first half of the match and prevented The Giant from tagging in.

[3] The main event, labeled "Hostile Takeover Match" by commentators, was between The Outsiders (Kevin Nash and Scott Hall) and their mystery partner, and Randy Savage, Sting and Lex Luger.

In a surprise move, the longtime fan favorite Hogan then performed two Atomic Legdrops to Savage, revealing himself to be Hall and Nash's partner as The Outsiders returned to the ring to celebrate their new alliance as the stunned crowd looked on.

The match officially ended in a no-contest after Hogan threw the referee out of the ring and hit Savage with one more Atomic Legdrop.

One fan jumped over the guardrail and tried to attack Hogan, but was taken out by Hall and Nash, before being escorted out of the arena by security.

Gene Okerlund entered the ring and asked Hogan why he had turned his back on the fans and how he could align himself with Hall and Nash.

Hogan went on to justify his actions, saying he was bored with WCW and had grown tired of constantly pandering to the fans, especially considering that more and more of them had started to turn on him since he had joined the company in 1994.

On the July 15, 1996 edition of WCW Monday Nitro, the nWo attacked Lex Luger and Big Bubba after their match.

[10][11] On the July 29, 1996 episode of WCW Monday Nitro, The Outsiders attacked Arn Anderson, the American Males (Marcus Bagwell and Scotty Riggs), and Rey Misterio, Jr., whom Nash threw into a dressing room trailer, before driving off in a limousine.

[7][10] At Hog Wild, the following pay-per-view event, Hogan defeated The Giant to win the WCW World Heavyweight Championship.

The style and nature of mainstream American professional wrestling changed as a result, with storylines becoming more realistic and adult-oriented.

[14] The nWo angle aided WCW in their competition against rival company, the World Wrestling Federation (WWF), with Nitro gaining a higher rating than Monday Night Raw, the WWF's premiere television show, for 83 consecutive weeks.

[15] In the original broadcast of the pay-per-view, color commentator Bobby Heenan exclaimed "whose side is he on?!"