According to Wrestlezone.com, the original plans for Ambrose at “Survivor Series” were for him to challenge Kevin Owens for the Intercontinental Championship. There is no news on if Ambrose would have won the IC title from him. It’s irrelevant now, but it’s likely that WWE bookers just hadn’t made a decision yet.
Due to the WWE World Heavyweight Championship Tournament, those initial plans have been scrapped for now at least. Last night, Owens defeated Titus O’Neil, and Ambrose beat Tyler Breeze in the first round matches of the tournament.
Since both men are on the same side of the bracket, it’s very plausible for Ambrose and Owens to face each other in the semifinals with the winner most likely to face Roman Reigns in the finals to determine the next WWE Champion.
There is plenty at stake already in that match. It’s very unlikely that match would include the Intercontinental Championship. However, that match may lead to a feud between Ambrose and Owens if other rumored plans for Ambrose don’t come to fruition.