>>7907883Austin lost the title when McMahon finally just took it from him. Then, at Survivor Series, there was a one night tournament for the championship.
Mankind had slowly become associated with McMahon by showing up everywhere he was and calling him dad, despite Vince trying to put him in situations where he gets fucked up by people.
At this point, The Rock had turned into a crowd favorite by separating from the racist group he was in and having a distain for everyone else, including McMahon and his flunkies.
At Survivor Series, Austin gets screwed and leaves a big vacant spot in the tournament. Mankind, clean shaven and in a "suit", is treated as McMahon's picked winner. The Rock is able to thwart McMahon's attempt at sabotage, leaving Mankind as the final opponent. In the finals, the McMahon's turn on Mankind and align with The Rock, ultimately choosing him as the new corporate champion.
This led to sad, fatass Mankind becoming a crowd favorite and feuding with The Rock, where they traded the belt a couple times in hardcore matches.