All Elite Wrestling took over Arthur Ashe Stadium in New York City for its annual Grand Slam event. Wednesday night's Grand Slam edition of AEW Dynamite kicked off by determining the Ring of Honor World Championship, the first of five championship bouts set for the live episode. Champion Claudio Castagnoli has defended the title several times in recent weeks, and he has been on a collision course with Chris Jericho, who has been seeking his eighth major championship.
Much to the surprise of everyone in attendance, Chris Jericho defeated Claudio Castagnoli to become the ROH World Championship. Granted, in typical Jericho fashion, he played dirty to ensure his win.
The early moments of the match were all about Claudio. Jericho hesitated to participate in the Code of Honor handshake to start the bout, but he ultimately joined hands with Claudio before slapping him in the face and getting things started. Claudio immediately took over, beating Jericho all over the ring. He even through Jericho onto the ropes, causing him to land with the top rope between his legs.
Jericho found his way back into the match with a cheap move, which shouldn't come as any surprise at this point. He threw former ROH owner Cary Silkin at Castagnoli, distracting him long enough to land a couple of strikes and even things up a little bit.
Things got really exciting when the action returned to the ring. Jericho and Castagnoli aren't always known for working off the top rope, but they combined for an incredibly impressive, high-flying spot. Jericho attempted to throw Castagnoli, only to have the ROH champion turn the tables. As Castagnoli began to throw Jericho, the Lionheart reversed in mid-air and sent Castagnoli across the ring.
Castagnoli eventually locked Jericho into a Sharpshooter, which was bound to happen at some point in the fight. The hold didn't last, however, as Jericho got to the ropes and was able to break out. A powerbomb by Castagnoli almost ended things, but the tap ended just before its third count.
The crowd eventually got what they wanted, as Castagnoli put Jericho into his swing and twirled him around the middle of the ring. A catapult followed by a massive lariat still wasn't enough to get the pin for Castagnoli. Jericho came at him with a bat, but Castagnoli caught it. The referee missed a low blow by Jericho and a Judas Effect was enough to knock Castagnoli out and claim the win.