Well, for me, there's two ways they can do this:
Back to SD!
Heyman mentioned a couple of weeks ago that Chris probably was never under contract with RAW, he just jumped ship after winning the title. So he can return to SD! and feud with another main eventer. As much as I'd love to see this, at this point, SD!'s main event card is actually kind of strong. You have Eddie, Angle, and Taker as the definite main eventers. JBL is our forced-down-our-throats main eventer. Big show is returning soon. Booker T and Cena are all but main eventers due to their feud and how the US Title is being really pushed on the show. There wouldn't be much for him to do.
Stay on RAW
Obviously. My personally feeling is that he'll feud with Orton up until Summerslam, possibly turning heel along the way. If not, then it'll be an angle built on respect. During this time, HHH will naturally become jealous of Orton stealing his limelight, and by SS, he might very well screw Orton, allowing Benoit to win back the title and kicking off the HHH/Orton feud. That would simmer for a couple of months until Orton or HHH won the title at, say, Royal Rumble from Benoit. That sets up both the HHH/Orton feud very nicely and gives Benoit something meaningful for the rest of the year.
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