Here's the way I see him returning:
This Monday on RAW, King Booker and Jerry Lawler decide to settle their differences in a "Loser gets dethroned" match at Summerslam, where the loser can never call himself "King" again. Then, at Summerslam, during their match, Triple H makes his return by interfering on Lawler's behalf, forcing King Booker to revert back to Booker T. Then he and King Boo - oops I mean Booker T are locked in a deathfeud (I made that word up).