On this day in 2005, first ever Money in the Bank ladder match was introduced

On this day in 2005, the first ever Money in the bank ladder match took place. Conceptualized by Chris Jericho, it was an event where six Superstars were to take on each other and climb the ladder to clinch the briefcase which has a contract to guarantee 'cashing-in' at any point of time in the period of a year to face the world champions.

The inaugural edition of the event took place in WrestleMania 2005. Back then, only competitors from Monday Night Raw took part in the event. The inaugural edition witnessed Edge, Chris Jericho, Chris Benoit, Kane, Christian, and Shelton Benjamin fighting for the prize. Rated-R Superstar Edge emerged out as the winner of the inaugural edition of the event.

The match was good and unique for its time. The fans loved the idea of climbing the ladder to clinch the prize to emerge as the winner. As Edge won the contract, he went on to face John Cena, who was the WWE Champion at the time. Batista was the World Heavyweight champion and appeared in Friday Night Smackdown. The contract after winning it, would be valid for a period of 365 days. 

Amendments in Money in the bank

Over the years, there have been a lot of amendments in the event. In the first five seasons, it was a part of the WrestleMania. However, in 2010, Money in the Bank became a marquee event itself as a major pay-per-view affair. Till 2017, only men's division had a Money in the bank match. It was the same year where the women's division got the well deserved event to headline. Carmella emerged as the inaugural champion among women.

There have been many winners in the event. Damian Priest in the current holder of the briefcase and is yet to make a successful cash-in. In the women's division, Iyo Sky won the prize and successfully cashed in last year to become the world champion. CM Punk is the only Superstar to have defended his money in the bank briefcase.