Ther were two big story lines leading to two big matches at this PPV.
Mankind and The Rock had been feuding since Survivor Series in November. Rock won the title from Mankind in a tournament final at Survivor Series. Mankind beat Rock for the title on Raw at the beginning of 1999. Rock took the title back in an "I Quit" Match at Royal Rumble. Mankind became champion again a week later at Halftime Heat in an Empty Arena Match. Here they met in a Last Man Standing Match. The match ended with the two men hitting each other with chairs at the same time and neither man answered the 10 count. The next night Rock beat Mankind in a Ladder Match for the title.
Ever since Vince stripped Stone Cold Steve Austin of the World Title in September, Austin had been trying to become champion again. First Vince told him he had to win the Survivor Series tournament. He lost. Then he had to win the Royal Rumble Match. He lost to Vince. The night after the Royal Rumble Vince voluntarily forfeited his Wrestlemania title shot to give it to one of the Corporation members. Commissioner Shawn Michaels said that the title shot automatically went to the runner up. Austin was willing to defend his title shot against Vince in a Steel Cage Match.
Several times Austin could have walked out of the cage to win the match, but he chose instead to inflict more punishment. Paul Wight came up from underneath the ring to attack Austin. He threw Austin against the Cage wall, which broke allowing Austin to escape and win.