I feel bad for CM Punk. I know he just cashed in “money in the bank” to became World Heavyweight Champion, but there was some truth in what JBL said to Punk about him being a “paper champion” for defeating a helpless Edge in just seconds.

Let me rephrase…I am happy for CM Punk, but the WWE messed this one up and missed out on making big money!

If there is one thing I know about wrestling it is that a babyface’s first title run is the most important and most successful one of their career.  The two-to-three month buildup, makes the babyface a believable champion and generally increases all aspects of business from TV to House Shows to PPVs.  It is the classic battle of the good guy who has been close but never able to reach the top versus the bad guy who will do everything it takes to hold on to his championship.  It is professional wrestling 101…its sports marketing 101! (Remember the way people were going crazy for Phil Mickelson’s first Masters’ Championship)  Think back to the build-up of Stone Cold going against HBK at Wrestlemania XIV and imagine if they would have just given the belt to Austin on a Monday Night Raw a few months before…  This format is so successful that it could even work for a former heel champion when he first turns face, ex. Triple H’s run against Jericho at Wrestlemania 18.

What makes Punk’s win even more intriguing is that he has been losing like crazy since he won the Money in the Bank ladder match at Wrestlemania XXIV.  The WWE needed a few months to build CM Punk as a legitimate challenger to the title, but instead they just gave him the title and popped his championship cherry without the financial payoff.  Is there anyone who thinks Punk won’t lose the title VERY soon.

As odd as this may sound, maybe the WWE doesn’t have the faith in CM Punk to generate enough interest for a long build-up to his title run.  I know there was (unnecessary) urgency to get a World title to RAW but Punk just isn’t a believable champion…yet!

Let me give you an example of what the WWE SHOULD have done:

The Money in the Bank contract is available to anyone who holds the briefcase…that is why CM Punk always has it by his side.  Well, you could have JBL pay someone to steal it from CM Punk or JBL jumps Punk backstage and steals the briefcase and uses it on Edge in the same way that Punk did last night on RAW.  JBL is your new champion and we enjoy the ride as CM Punk tries to get the title that should have been rightfully his…Punk defeats all challengers for the next couple of months and the crowd is foaming at the mouth for Punk to win!

Now what do you think would be a better payoff…CM Punk trying to get the title from JBL or CM Punk defending his title against JBL!

If you know anything about wrestling…it is the championship chase that sells!!! Especially the very first one!