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Alberto Del Rio
Del Rio may have reason to mount another challenge after the last-minute reinstatement of the Brogue Kick, but I for one couldn't take another month of build just to see Sheamus go over him again, and I doubt the WWE will go with it for a fourth time.
Rey could theoretically be a legitimate contender, but while he's tied up tagging with Sin Cara and the WWE is determined to make Sheamus a top face, it's unlikely.
Sheamus is effectively the new WWE superman, and when you consider his Brogue Kick now acts as Cena's five moves of doom in just one move, you can see the similarities between the two superstars. While it would be interesting to see who goes over, Cena's both injured for a few weeks and embroiled in competition for the WWE Championship.
The Big Red Machine could have been a strong and worthy opponent, but his new, immensely well-received angle with Daniel Bryan will likely see him away for world title contention for some time.
Rhodes could be a worthy contender, but he's looked too weak lately and already fought a losing effort against Sheamus on SmackDown recently.
The current Money in the Bank holder really ought to be kept away from the title to make his eventual cash-in all the more surprising—and he's already lost to Sheamus for the championship at No Way Out.