No Way Out kicks off with typical pay-per-view fanfare, and immediately fans both at home and at the arena are treated to extended video highlights focussed on the Orton/Hardy feud, as well as on the big match up between Theodore Long and Eric Bischoff to decide who will control Smackdown.
The first entrance of the night, however, is reserved for Cruiserweight champion Gregory Helms, who struts out with the gold over his shoulder for what should be a trying title defence - taking on four other men in a ladder match! The first challenger out is new face, Austin Aries, who gets a modest reception. Nunzio's own entrance draws some heel heat, whilst Kid Kash gets a decent amount to his name. Juventud's arrival draws the biggest pop, the former champion riding out to the ring on a Juan Deere.
MATCH ONE - Gregory Helms (c) vs. Nunzio vs. Kid Kash vs. Austin Aries vs. Juventud for the Cruiserweight Title (Ladder Match)
The match gets underway with the bell, and almost immediately all four challengers attack the champion - bearing him to the ground with punches and kicks. Helms is tossed to the outside by all four men, who momentarily share a display of celebratory back-slapping before Nunzio and Kid Kash spoil the moment by attacking the babyfaces. Whilst Kash enjoys success against the green Austin Aries - Nunzio bites off more than he can chew and is sent to join Helms outside by a dropsault from Juvi. Meanwhile Austin Aries is treated to a series of stiff chops and kicks from Kid Kash, who backs him into the corner before ascending for what we assume is a ten punch. Aries shows some ingenuity by turning it into a brutal running powerbomb that gets a solid reception from the crowd. Juventud has gone to the top, however, and flies with a missile dropkick that catches Aries as he turns around.
Outside the ring Nunzio and Helms are brawling around the announcer's table, Tazz and Michael Cole having to move when Nunzio unsuccessfully attempts to suplex Helms through their table. Helms blocks the move before lifting Nunzio up and dropping him face first onto the floor. He takes a moment to mock the crowd and, as he does this, Juventud catches him in the back with a baseball slide. This time Helms does taste announce table, crashing face first into the front of it as he stumbles. Juvi makes the first attempt to grab a ladder, but Austin Aries baseball slides the ladder as Juvi tries to heft it into the ring, sending it into the Juice's face! Aries is spun around by a recently returned Kash, who tries to set him up for his Dead Level, but Aries twice manages to stay on his feet before elbowing Kash in the midsection and hitting a fisherman's suplex. Aries is certainly showing tenacity, and he goes outside to drag the ladder into the ring. Helms, Nunzio, and Juvi are all down on the outside, and it's Nunzio who attacks Aries as he attempts to grab the ladder, latching onto his back comically. Aries shows tremendous strength to carry Nunzio on his back as he climbs to the apron, snap-maring him into the ring. Nunzio hits back with a quick guillotine, and now Aries is crashing to the mat. Kash attempts to attack Nunzio from behind as well, but the fiery Italian thumbs Kash's eye and locks him in a painful looking abdominal stretch! Of course, there's no submissions in this one, so Kash is in a world of pain with no escape.
Outside the ring the three other competitors have returned to brawling, with Juvi and Helms re-igniting their long standing feud with a rather brutal exchange. Helms whips Juvi at the security barrier, but the Juice shows his balance by leaping to the top, pausing a moment, and then attempting a springboard moonsault. Helms is able to catch Juventud and turn it into a brutal reverse DDT that draws a 'Holy sh*t' chant from the crowd. Back inside the ring Nunzio has the ladder set up, but Austin Aries is on hand to attack the former champion from behind as he scampers up the ladder, clubbing him across the back. This time Kid Kash is able to get his revenge on Aries - a Russian Leg Sweep smashing Aries' face into the bottom rung of the ladder! Kash begins to ascend the ladder, but Helms is wise to his plan and slides into the ring. The two men begin to climb the ladder together, and Nunzio and Juvi rush in to prevent a potentially match ending situation. Both men climb up beneath Kash and Helms (respectively) and we get... DOUBLE ELECTRIC CHAIR DROPS! Nunzio and Juvi just electric chair dropped Helms and Kash from the middle of the ladder!
All five men are lying down, exhausted, and it's Aries who staggers to his feet - his face a mask of crimson after his encounter with the ladder. He looks around, sees all four men down, and looks up at the gold. It's his chance! He begins to slowly climb, the loss of blood clearly effecting his balance, but he's only three quarters of the way up when Nunzio gets to his feet. Aries looks up at the gold and then down at Nunzio. Up then down. What's he thinking? CORKSCREW SENTON! Aries just sacrificed his chance at the gold to pull of an insane corkscrew senton from the top! Nunzio is crushed! The fans are chanting as all five men lie motionless on the ground.
Juvi is to his feet now, but he's got to contend with Kid Kash and Helms as they've also recovered. He begins slugging Helms and then turns to Kash, beating on both men with right hands before sending Kash to the mat with a dropkick. Helms whips Juventud, who ducks an attempted clothesline and hits a hurricanrana. Helms tumbles to the mat and then skids out of the ring. Now it's Juvi's chance to ascend the ladder, with Aries and Nunzio still down after their earlier confrontation. Juventud is climbing with more speed, but Kash is to his feet. He can't stop Juvi, can he? No! But he can push the ladder! Juventud and the ladder tip, and the Juice goes all the way to the outside! He collides with the security barrier and goes to ground! Meanwhile Kash attempts to reset the ladder, but Nunzio and Aries are both to their feet. Rather than fighting them off, Kash uses the ladder to attempt a clothesline on both men, but they duck! They grab an end of the ladder each and put their weight onto it, sending Kash backwards and crushing him between the ladder and the ropes! He is squeezed out between the middle rope, and now Nunzio and Aries are having a tug of war! This lasts a second or two before Aries pushes rather than pulling, catching Nunzio under the jaw and knocking the Italian to the mat!
He's setting up the ladder, but the numbers are again against him, as Helms begins to crawl back into the ring. The referee is all over the place, attempting to check on every competitor, and this allows Helms to crack Aries across the back with his Cruiserweight Title. Aries drops as if he's been shot, and Helms begins to climb. At the top he pauses to mock the crowd, and this proves 'fatal', Juvi scampering up the other side and slugging him. Helms teeters and tumbles. Juventud has the gold in his sights, but he's going for the kill.... LEG DROP! He hits a leg drop from the top of the ladder, almost decapitating Helms! Kid Kash is now attempting to climb the ladder, but Nunzio manages to halt him. They're locked up.... SUPERPLEX! Now it's Kash and Nunzio crashing to the mat! Again all five men are down. The fans are exhausted and so are the workers. All five begin to get to their feet at once, sluggishly throwing punches as they head towards the ladder. Nunzio begins to climb, but Kash scampers up onto his shoulders and tries to get ahead that way. Aries, however, attempts to electric chair drop Nunzio instead. What happens is a three storey drop - with Kash atop Nunzio as all three men plummet to the mat! Now it's just Juvi and Helms. They're fighting their way to the top, throwing punches as they go. Both men are teetering as Aries (who suffered the least of the impact from the fall) gets a running start and shoulders the ladder. Both men leap.... and CATCH THE TITLE! They're hanging together without anything but a twenty foot fall to the ring beneath them! They're fighting as they swing above the ring, the fans chanting for Juvi to win. They're going to fall, but can somebody bring the title down with them?
They....teeter...and....
....
Juvi falls! Juventud got caught with a vicious right hand from Helms and he falls! Helms is still hanging on! He's just got to unclip the gold. Aries, Kash, and Nunzio watch on in despair as he unclips the belt and drops to the mat. He is quick to roll out of the ring too, not sticking around for any kind of reprisal.
WINNER AND STILL CHAMPION: Gregory Helms