During the pre-show for Fallout, a video package began to play hyping the main event – CM Punk versus Adam Cole for the EBWF World Championship. The video package started by recapping CM Punk’s feud with The Miz over the EBWF World Championship, culminating in Punk defeating Miz in a Hell in a Cell match at Christmas Eve of Destruction 2024. This was followed by a recap of Adam Cole winning the 2025 men’s Last Survivor match, and his interview on Warfare a few weeks later, where Cole sported a new look, dressing in a sharp suit and proclaiming himself to be the next EBWF World Champion. The video package showed Punk taunting Cole at the end of the interview, and followed on with clips of CM Punk’s response to Cole the following week, including the lines where Punk said Cole “looked like he just left a failed audition for a boy band reunion”, and that at Fallout, Punk was “walking in to defend a legacy”. The video ended with a fading echo of the word legacy, and a shot of Cole in his suit, head bowed. Then, there was the sound of shots being fired, and static appeared on the screen. When the static was gone, the camera cut to the backstage area of Madison Square Garden. Adam Cole was standing in a similar position to the one he had been seen in at the end of the video package, but he was no longer in a suit. Instead, he was wearing his ring gear and a black leather jacket. On the back of the jacket was the Bullet Club logo, and the words “Bay Bay”. Cole raised his head, but he didn’t turn around; instead, he turned his head to the side. He pointed to the back of the jacket, then began to speak.
Adam Cole: Eight years ago, I wore this jacket in the Tokyo Dome, at Wrestle Kingdom 11. And on that night… I made history. I became the first man to ever win the Ring of Honor World Championship three times. And I did it by beating a man I respect more than almost anyone in this business. A man who pushed me harder than anyone ever has. A man who I considered a rival for a long-time, but we’ve been friends for even longer… Kyle O’Reilly.
At this point, Cole turned around to face the camera.
Adam Cole: Even now, eight years later, I am still the only man to ever hold the Ring of Honor World Championship three times. And maybe that doesn’t mean much to a lot of people, especially since these days, Ring of Honor is just Tony Khan’s little sandbox. But that night – beating Kyle O’Reilly in the Tokyo Dome, becoming the World Champion once again and making history in the process – that night meant everything to me. Because it wasn’t just about the title. It was about proving I belonged at the top. Ring of Honor helped make pro wrestling what it is today; it was a huge part of my career, my journey. And do you know who else’s journey it was part of? The current EBWF World Champion, and my opponent tonight, CM Punk. You were ROH Champion once too, weren’t you Punk? So I know you understand what it means to hold that title. You and me? We don’t get to the big time without those matches, those crowds, that legacy.
Cole started pacing slowly.
Adam Cole: You have a habit of getting under people’s skin, don’t you Punk? You’ve certainly got under my skin plenty of times these past few weeks; first, when you interrupted my moment on Warfare. You didn’t even after say anything to piss me off, just seeing your smug face did it. And then the following week, you annoyed me even more by mocking my new look, and acting like you know me better than I know myself. But there was something you said, Punk, something that’s stuck with me. You said that I’m walking into Fallout thinking I’ve already won. That I’ve got the suit, the catchphrase, the confidence — but not the scars.
Cole stopped pacing, and turned back towards the camera.
Adam Cole: And damn it, Punk… I think you might be right. Because for years, I have felt like I wasn’t getting the chance to earn those scars. It felt like no matter how hard I worked, no matter how much the fans got behind me, there was always someone or something pulling me back, holding me down. Politics, timing, the old guard… you name it. And yeah, I got frustrated. But I kept going. I built my own legacy. A legacy that started with Ring of Honor, ran through Japan, through every building in every town I’ve ever wrestled in… and it led me here. And tonight, in Madison Square Garden, that legacy reaches its moment of truth.
Cole smirked, and there was a momentary sparkle in his eye.
Adam Cole: You’re right, Punk. You’ve accomplished more in this business than I have. You’ve walked into locker rooms with the same chip on your shoulder that I have, and walked out with a World Title over it. And “walked out” is an apt turn of phrase when talking about your legacy, isn’t it? You like to think you’re a trailblazer, but the real blaze is the bridges you’ve burned along the way. You’re a legend… but you’re also a cautionary tale.
Cole’s smile faded. His voice sharpened.
Adam Cole: Maybe that’s the difference between you and me, Punk. You fought the system; I waited my turn. But I’m done waiting… I stopped knocking on the door, and kicked it down instead. So tonight, my turn becomes my triumph.
“And I wouldn’t bet against him.”
A voice could be heard off camera, and Cole turned his head as Kyle O’Reilly stepped into frame. O’Reilly patted Punk on the shoulder, then spoke into the camera.
Kyle O’Reilly: Punk… I’ve been in the ring with Adam Cole more times than I can count. I’ve fought him in bingo halls, ballrooms, and the Tokyo Dome… a venue every bit as iconic as Madison Square Garden. And if there’s one thing I’ve learned in all those matches with Cole, both as his partner and as his opponent? You don’t ever take him lightly.
He looked over at Cole, nodding once.
Kyle O’Reilly: I remember that night at Wrestle Kingdom well, Adam. I was bitterly disappointed… but you deserved that victory. We’ve both had a lot of ups and downs in our careers since then… but for all the frustrations you’ve felt, Adam, remember your successes too. You’ve found your fire again, and maybe you and Roddy pissed a lot of people off with the way you’ve “unleashed” yourselves in EBWF… but clearly in your case, it allowed you to rebuild the momentum you needed. That’s why you were able to win the Last Survivor match, and it was an honour play a small part in your success that night. You’ve earned your chance to main event the Garden tonight, Adam. And this is your shot to go higher than you’ve ever been.
Cole removed his jacket and handed it to O’Reilly, who held it up, as Cole turned back to the camera, fire in his eyes.
Adam Cole: This jacket might not seem like much… but it’s a jacket that fits me a lot better than that blue blazer I wore on Warfare a few weeks ago. Because this jacket, it reminds me where I came from. Who I fought. What I earned.
Cole looked down briefly, then back up, his tone dead serious.
Adam Cole: I’m not part of the Bullet Club anymore. And this sure as hell ain’t the Tokyo Dome. But this? This is Madison Square Garden. This is EBWF. This is the main event. Tonight, CM Punk, I fire the most important bullet of my career. And that bullet has your name on it.
Cole reached over and tapped the "Bay Bay" on the jacket.
Adam Cole: So thank you for dissing that ill-fitting suit, Punk. Thank you for reminding me where I came from, who I truly am. When you talked about your legacy, you reminded me of my own legacy, and you awakened something in me. So tonight, when the smoke clears and it’s all said and done… it won’t be your legacy people remember. It’ll be mine.
As Cole turned around, O’Reilly placed the jacket back on Cole’s shoulders. Cole held his fingers up in the air and whispered “Bay Bay” as the scene faded.
