In 1992 all of the First Division Clubs resigned from the football league and, on May 27 1992, the FA Premier League was formed as a limited company, which worked out of an office at the then Football Association's headquarters, Lancaster Gate.
The three divisions which remained in the Football League were renamed. The old Division Two was now called Division One. The old Division Three was now called Division Two, and the old Division Four was now Division Three.
Going down were Cambridge United (who had just missed out on promotion a year earlier), Brentford and Bristol Rovers. Brentford, newly promoted a season earlier, had stood in 10th place at the turn of 1993, but a sharp decline in form during the final few months of the season saw them relegated on the final day of the season.
Third-placed Portsmouth had opened up a 10-point gap over fourth-placed Tranmere Rovers, but lost to Leicester City in the playoff semi-finals and this ended any promotion hopes for a club who had begun the season as favourites for promotion, and ended it with 88 points.
| Pos. | Team | Pld | W | D | L | GF | GA | Pts |
|---|---|---|---|---|---|---|---|---|
| 1. | Newcastle | 46 | 29 | 9 | 8 | 92 | 38 | 96 |
| 2. | West Ham | 46 | 26 | 10 | 10 | 81 | 41 | 88 |
| 3. | Portsmouth | 46 | 26 | 10 | 10 | 80 | 46 | 88 |
| 4. | Tranmere | 46 | 23 | 10 | 13 | 72 | 56 | 79 |
| 5. | Swindon | 46 | 21 | 13 | 12 | 74 | 59 | 76 |
| 6. | Leicester | 46 | 22 | 10 | 14 | 71 | 64 | 76 |
| 7. | Millwall | 46 | 18 | 16 | 12 | 65 | 53 | 70 |
| 8. | Derby | 46 | 19 | 9 | 18 | 68 | 57 | 66 |
| 9. | Grimsby | 46 | 19 | 7 | 20 | 58 | 57 | 64 |
| 10. | Peterborough | 46 | 16 | 14 | 16 | 55 | 63 | 62 |
| 11. | Wolves | 46 | 16 | 13 | 17 | 57 | 56 | 61 |
| 12. | Charlton | 46 | 16 | 13 | 17 | 49 | 46 | 61 |
| 13. | Barnsley | 46 | 17 | 9 | 20 | 56 | 60 | 60 |
| 14. | Oxford | 46 | 14 | 14 | 18 | 53 | 56 | 56 |
| 15. | Bristol City | 46 | 14 | 14 | 18 | 49 | 67 | 56 |
| 16. | Watford | 46 | 14 | 13 | 19 | 57 | 71 | 55 |
| 17. | Notts C | 46 | 12 | 16 | 18 | 55 | 70 | 52 |
| 18. | Southend | 46 | 13 | 13 | 20 | 54 | 64 | 52 |
| 19. | Birmingham | 46 | 13 | 12 | 21 | 50 | 72 | 51 |
| 20. | Luton | 46 | 10 | 21 | 15 | 48 | 62 | 51 |
| 21. | Sunderland | 46 | 13 | 11 | 22 | 50 | 64 | 50 |
| 22. | Brentford | 46 | 13 | 10 | 23 | 52 | 71 | 49 |
| 23. | Cambridge | 46 | 11 | 16 | 19 | 48 | 69 | 49 |
| 24. | Bristol Rovers | 46 | 10 | 11 | 25 | 55 | 87 | 41 |
Preston North End, Wigan Athletic, Mansfield Town and Chester City occupied Division Two's four relegation places. Mansfield were newly promoted, while the other three teams had been established at this level for no less than six years.
| Pos. | Team | Pld | W | D | L | GF | GA | Pts |
|---|---|---|---|---|---|---|---|---|
| 1. | Stoke | 46 | 27 | 12 | 7 | 73 | 34 | 93 |
| 2. | Bolton | 46 | 27 | 9 | 10 | 80 | 41 | 90 |
| 3. | Port Vale | 46 | 26 | 11 | 9 | 79 | 44 | 89 |
| 4. | West Brom | 46 | 25 | 10 | 11 | 88 | 54 | 85 |
| 5. | Swansea | 46 | 20 | 13 | 13 | 65 | 47 | 73 |
| 6. | Stockport | 46 | 19 | 15 | 12 | 81 | 57 | 72 |
| 7. | Leyton Orient | 46 | 21 | 9 | 16 | 69 | 53 | 72 |
| 8. | Reading | 46 | 18 | 15 | 13 | 66 | 51 | 69 |
| 9. | Brighton | 46 | 20 | 9 | 17 | 63 | 59 | 69 |
| 10. | Bradford City | 46 | 18 | 14 | 14 | 69 | 67 | 68 |
| 11. | Rotherham | 46 | 17 | 14 | 15 | 60 | 60 | 65 |
| 12. | Fulham | 46 | 16 | 17 | 13 | 57 | 55 | 65 |
| 13. | Burnley | 46 | 15 | 16 | 15 | 57 | 59 | 61 |
| 14. | Plymouth | 46 | 16 | 12 | 18 | 59 | 64 | 60 |
| 15. | Huddersfield | 46 | 17 | 9 | 20 | 54 | 61 | 60 |
| 16. | Hartlepool | 46 | 14 | 12 | 20 | 42 | 60 | 54 |
| 17. | Bournemouth | 46 | 12 | 17 | 17 | 45 | 52 | 53 |
| 18. | Blackpool | 46 | 12 | 15 | 19 | 63 | 75 | 51 |
| 19. | Exeter | 46 | 11 | 17 | 18 | 54 | 69 | 50 |
| 20. | Hull | 46 | 13 | 11 | 22 | 46 | 69 | 50 |
| 21. | Preston | 46 | 13 | 8 | 25 | 65 | 94 | 47 |
| 22. | Mansfield | 46 | 11 | 11 | 24 | 52 | 80 | 44 |
| 23. | Wigan | 46 | 10 | 11 | 25 | 43 | 72 | 41 |
| 24. | Chester | 46 | 8 | 5 | 33 | 49 | 102 | 29 |
Halifax Town, after 72 years of league membership, finished bottom of the league and were replaced by Conference champions Wycombe Wanderers.
| Pos. | Team | Pld | W | D | L | GF | GA | Pts |
|---|---|---|---|---|---|---|---|---|
| 1. | Cardiff | 42 | 25 | 8 | 9 | 77 | 47 | 83 |
| 2. | Wrexham | 42 | 23 | 11 | 8 | 75 | 52 | 80 |
| 3. | Barnet | 42 | 23 | 10 | 9 | 66 | 48 | 79 |
| 4. | York City | 42 | 21 | 12 | 9 | 72 | 45 | 75 |
| 5. | Walsall | 42 | 22 | 7 | 13 | 76 | 61 | 73 |
| 6. | Crewe | 42 | 21 | 7 | 14 | 75 | 56 | 70 |
| 7. | Bury | 42 | 18 | 9 | 15 | 63 | 55 | 63 |
| 8. | Lincoln | 42 | 18 | 9 | 15 | 57 | 53 | 63 |
| 9. | Shrewsbury | 42 | 17 | 11 | 14 | 57 | 52 | 62 |
| 10. | Colchester | 42 | 18 | 5 | 19 | 67 | 76 | 59 |
| 11. | Rochdale | 42 | 16 | 10 | 16 | 70 | 70 | 58 |
| 12. | Chesterfield | 42 | 15 | 11 | 16 | 59 | 63 | 56 |
| 13. | Scarborough | 42 | 15 | 9 | 18 | 66 | 71 | 54 |
| 14. | Scunthorpe | 42 | 14 | 12 | 16 | 57 | 54 | 54 |
| 15. | Darlington | 42 | 12 | 14 | 16 | 48 | 53 | 50 |
| 16. | Doncaster | 42 | 11 | 14 | 17 | 42 | 57 | 47 |
| 17. | Hereford | 42 | 10 | 15 | 17 | 47 | 60 | 45 |
| 18. | Carlisle | 42 | 11 | 11 | 20 | 51 | 65 | 44 |
| 19. | Torquay | 42 | 12 | 7 | 23 | 45 | 67 | 43 |
| 20. | Northampton | 42 | 11 | 8 | 23 | 48 | 74 | 41 |
| 21. | Gillingham | 42 | 9 | 13 | 20 | 48 | 64 | 40 |
| 22. | Halifax | 42 | 9 | 9 | 24 | 45 | 68 | 36 |