Sting definitely. Shawn Michaels was one of the worst drawing champions of all time.
I don't get this argument at all. Are you implying that because the WWF was at a down period that it is Shawn Michaels fault? Quite literally every PPV buy they had during that time was only for HBK, because he was the only wrestler worth watching during his first title reign.
To challenge this statement, if we're going to just measure drawing power by the state of the companies during a champions reign - then how is Sting "not one of the worst" drawing champions of all time as well? WCW in the early 90s were poor as hell and way worst off than the WWF in 96. With Sting they actually had to bring back Ric Flair just so they could put the belt on him.
Not to mention the fact that Sting has been champion on TNA multiple times and they never go any where, in fact Sting for the most part has little impact on TNA while Michaels has headlined Wrestlemania's and his retirement speech was one of the highest rated RAWs in a while.
So what makes Sting such a great draw? The only time WCW was ever in a good state when Sting was champion was when people were paying to see the nWo. And after Sarrcade no one cared about Sting anymore. So yeah, Sting was booked as a superman and teased the fans for a year by jumping the nWo with an awesome gimmick - then once he actually wrestled no one cared any more. That's longevity.