No Way Out (2012) (also known as No Escape (2012) in Germany, since No Way Out was used as the substitute title for the Elimination Chamber' pay-per-view over concerns regarding The Holocaust imagery of the title) was a professional wrestling pay-per-view (PPV) event produced by the WWE promotion, which took place on June 17, 2012 at the Izod Center in East Rutherford, New Jersey. The show was the twelfth No Way Out event and the first one since 2009. Nine matches were on the card. The event received 194,000 buys, up from last year's Capitol Punishment pay-per-view of 170,000.

The professional wrestling matches at No Way Out featured professional wrestlers performing as characters in scripted events pre-determined by the hosting promotion, WWE. Storylines between the characters played out on WWE's primary television programs, Raw and SmackDown.

On the May 14 episode of Raw, the general manager of Raw and SmackDown John Laurinaitis fired The Big Show for mocking his voice. At Over the Limit, just before John Cena would defeat Laurinaitis, Big Show Knockout Punched Cena, allowing Laurinaitis to pin Cena. The next night on Raw, Laurinaitis revealed that he gave Big Show back his job, complete with an ironclad contract with a bonus on the condition that he would take out Cena as Show was outside the influence of the no interference stipulation for the match. Show stated that he only helped Laurinaitis when he didn't receive any sympathy from the other Superstars, and because of his ironclad contract, started attacking those Superstars. Laurinaitis would soon book a match between Cena and Big Show inside a steel cage for the pay-per-view. On the June 11 edition of Raw, Mr. McMahon returned to evaluate John Laurinaitis' job, but was interrupted by the Big Show, at which point Mr. McMahon announced that if Big Show loses, Laurinaitis would be fired, at which point the Big Show knocked out Mr. McMahon after Cena ducked. On the June 15 episode of SmackDown, Laurinaitis announced the stipulation if Cena loses, he would be fired, at which point Cena knocked Laurinaitis out.

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