Storylines
The main feud heading into the show was between The Rock and Kurt Angle for the WWF Championship. At SummerSlam, The Rock defeated Angle and Triple H in a Triple threat match to retain the WWF Championship. At No Mercy, Angle defeated The Rock to win the title after interference from Rikishi failed. Two months later, at Armageddon, Angle pinned The Rock to retain the WWF title in a Hell in a Cell match, also involving Stone Cold Steve Austin, Triple H, Rikishi, and The Undertaker. On the January 1 episode of Raw Is War, The Rock lost a #1 contenders match to Kane by countout after Angle interfered. A few days later on SmackDown!, The Rock lost a non-title match to Angle by disqualification after attacking Angle with a steel chair. On the February 8 episode of SmackDown!, The Rock defeated Big Show to become the #1 contender to the WWF Championship at No Way Out.
Another main feud was between Stone Cold Steve Austin and Triple H, which began at SummerSlam 1999 when Triple H, after failing to win the WWF Championship from Austin in a Triple threat match, also involving Mankind, decided to hit Austin with a steel chair, and targeted his leg with it. Austin would get his rematch a couple of months later at No Mercy against Triple H, but lost after The Rock accidentally struck him with a sledgehammer that was meant for Triple H. At Survivor Series, Austin was booked into a triple threat match for the WWF Championship that also included then-WWF Champion Triple H, and The Rock. Instead, however, Austin was run down by a car in the parking lot.[5] Big Show would replace Austin in the match, and would win the WWF Championship. What followed was neck surgery by Dr. Lloyd Youngblood and a nine-month rehabilitation; with the car angle as his reason for leaving.[5] In September 2000 at Unforgiven, Austin made his official return, and tried to find out who ran him down at Survivor Series the previous year.[5] On the October 9, 2000 episode of Raw Is War, Rikishi finally admitted to being the driver because "he did it for The Rock."[5] At the following pay-per-view, No Mercy, Austin made his in-ring return to face Rikishi in a No Holds Barred Match. During the match, Austin attempted to drive his truck into Rikishi, who by that time, was a bloody mess. Before he could, he was stopped by police officers, and WWF officials, and the match was deemed a no-contest. Austin was then arrested and was later bailed by Commissioner Mick Foley. During a handicap match against Rikishi and Kurt Angle, Triple H, who had been showing signs of a face turn, came down with the apparent intention of teaming with Austin. After clearing the ring, Triple H smashed his sledgehammer over Austin's head, and revealed it was actually him behind the whole scheme, and it was he who paid off Rikishi to run Austin over, attempting to keep the WWF Championship from Austin and end his career. At Survivor Series, Triple H had plotted to run Austin down again during their match (thus repeating the events of the previous year's Survivor Series) but his plot failed when Austin lifted Triple H's automobile with a forklift, then let it drop 20 feet. On the January 8th episode of Raw Is War, Austin challenged Kurt Angle for the WWF Championship. The title match ended in a no-contest when Triple H interfered and struck Austin with a steel pipe. At the Royal Rumble, Austin got back at Triple H by interfering and costing him the WWF Championship against Angle. Austin went on to win the Royal Rumble match,[6] last eliminating Kane.
Finally, on the February 5 edition of Raw Is War, Vince McMahon announced a Two-out-of-three falls match between Austin and Triple H at No Way Out to settle their differences. The first fall would be a singles match, the second fall would be a street fight, and the third fall would be a steel cage match. McMahon then instituted a "zero tolerance" policy and said that if either man attacked the other before No Way Out, Austin would lose his WrestleMania match and Triple H would be suspended for six months. After Austin signed his name on paper, Triple H struck him in the back of the head with the clipboard and assaulted him. He then revealed to an irate McMahon that he still had to sign the contract, which he then did. Although the two came close to attacking each other, they did not do so. The week before the event, Austin performed a Stone Cold Stunner on Triple H's wife Stephanie McMahon-Helmsley during Raw Is War, while Triple H performed a Pedigree on Austin's friend and Raw play-by-play commentator Jim Ross on SmackDown! as retaliation.