During the course of the season, first Macedonia, and then Bosnia and Herzegovina also declared independence from Yugoslavia, and the Bosnian War started.

[1] Because of the large numbers of teams leaving the league, seven new teams were promoted to the first league for 1992–93 season, all from Serbia and Montenegro: Napredak Kruševac, Hajduk Kula, Bečej, Mogren Budva, Kikinda, Radnički Novi Beograd, and FK Pristina.

Ljubljana wanted to participate, but they were under pressure from their football association, and decide to leave Yugoslav competition before first round match against Partizan in Belgrade.

Slobodan Marović, Robert Prosinečki, Refik Šabanadžović, Dragiša Binić, Stevan Stojanović and coach Ljupko Petrović left the team, while Dragoje Leković, Milorad Ratković and Ilija Ivić joined the team in the summer transfer window, while Vladica Popović became the new coach.

Ljubomir Vorkapić, Nebojša Gudelj, Branko Brnović, Slobodan Krčmarević and Zlatko Zahovič were brought to the club, while Gordan Petrić and Slaviša Jokanović returned from obligatory military service in Yugoslav People's Army.

In the next round, on April 5, 1992, the match Željezničar-Rad in Sarajevo did not begin, because before the game shootings started in the vicinity of Grbavica Stadium.