Race, after many victories over Dusty Rhodes and other great wrestlers, lost the title to Rhodes in 1981. Rhodes lost the title to up-and-coming star Ric Flair, though Race was able to defeat Flair in St. Louis in 1983 for his seventh reign as champion, breaking the record previously held by Lou Thesz. What followed was one of the classic angles of the 1980s, which led to the first NWA Starrcade event. Determined not to lose the title again, Race offered a $25,000 bounty to anyone who could eliminate Flair from the NWA. Bob Orton, Jr. and Dick Slater attacked Flair, inflicting what appeared to be a career-ending neck injury, and collecting the bounty from Race after Flair announced his retirement. Flair's retirement was a ruse, however, and he eventually returned to action, much to Race's surprise. NWA officials set up a championship rematch, to be titled "Starrcade: A Flare for the Gold". The match was to be held in Flair's hometown of Greensboro, North Carolina, which enraged Race. Race lost the title to Flair in the bloody and memorable Starcade steel cage match (with Gene Kiniski as the special referee.) Flair jumped on top of Race from the top rope and pinned him to become champion.