The Late Billy Graham?

I was watching this match and what is the deal with "the late Superstar Billy Graham " and then Kal doubles down and talks about his death due to steroids. Was this their Ultimate Warrior or was this just misinformation or Vince's way of literally burying Billy Graham 

Yeah, that's one way of burying someone!  I hadn't actually heard of him having death rumors in 1982, so I'm quite confused as to what would have happened there.