Bankrolled by millionaire chairman Jack Walker and managed by former Liverpool boss Kenny Dalglish, Rovers beat Leicester City 1–0 in the play-off final to end a 26-year absence from the top flight.

Brighton had been losing finalists in the play-offs just twelve months before going down, but their fortunes had been ruined by financial problems and the loss of striker Mike Small to West Ham United in the 1991 close season.

FA Cup holders Tottenham Hotspur endured a disappointing season, finishing a lowly 15th in the league, their chances of further success not helped by the season-long absence of Paul Gascoigne through injury.

Newly promoted West Ham United and Notts County went straight back down, joined by a Luton Town side who had enjoyed a memorable 10-year run in the top flight.

The final promotion place went to Blackburn Rovers, who had thrived since the takeover of the club by local millionaire Jack Walker the previous season, his masterstroke coming in the autumn of 1991 when he appointed Kenny Dalglish as manager and allowed him to spend millions on building a promotion-winning team.

Plymouth Argyle filled the final relegation spot, as a late improvement in form following the arrival of legendary England goalkeeper Peter Shilton as manager ultimately proved not to be enough to save the Pilgrims.

They were joined by runners-up Birmingham City, who finally escaped from this division at the third attempt, and playoff winners Peterborough United, who won a second successive promotion to secure second-tier football for the very first time.

After spending several years struggling to stay afloat, Aldershot were declared bankrupt and obliged to resign from the league on 25 March 1992, having played 36 games in the Fourth Division – their record was expunged.

Newly promoted Sheffield Wednesday finished third in the league and qualified for the UEFA Cup, confounding suggestions that 37-year-old player-manager Trevor Francis was too inexperienced to keep the Owls in the top flight.

Everton striker Graeme Sharp ends 11 years at the club to sign for Oldham Athletic in a £500,000 deal, with Paul Warhurst heading out of Boundary Park in a £750,000 move to Sheffield Wednesday.

11 July 1991 – Former Liverpool striker John Aldridge returns to England in a £250,000 move to Tranmere Rovers, becoming their record signing after spending two years in Spain with Real Sociedad.

26 July 1991 – Joe Royle further boosts Oldham Athletic's squad, ready for their first top flight season in almost 70 years, with a £400,000 move for Coventry City captain Brian Kilcline.

John Impey, who won promotion to the Third Division with Torquay United just weeks after his appointment as manager last season, is sacked after six months in the job after his side lost seven out of eight games in the league.

Arsenal keep their hopes of retaining the league title on track with a 2–0 home win over Notts County, who are now just one place above the relegation zone after their fine start to the season gave way to a run of bad results.

Wolves continue their climb up the table with a 2–0 win at Grimsby, while Portsmouth's promotion hopes are hit by a 3–2 defeat at Plymouth, whose three points help them stay clear of the drop zone.

Williams' assistant Clive Walker is left with the task of turning things around for the club, who are kept off the foot of the table only by the shockingly awful seasons being experienced by Aldershot and Doncaster Rovers.

11 January 1992 – Defender Gary Ablett makes the move across Stanley Park to join Everton from Liverpool for £750,000, on the same day that his new club loses 1–0 to Manchester United at Old Trafford, with an Andrei Kanchelskis goal taking Alex Ferguson's team back to the top of the league.

22 February 1992 – Manchester United open up a four-point lead at the top of the First Division by beating Crystal Palace 2–0 at Old Trafford, with Mark Hughes scoring twice and Peter Schmeichel making a spectacular save from a Simon Rodger shot.

[52]}} 4 March 1992 – Welsh international midfielder Joey Jones, who plays for Wrexham at club level and turned out for Liverpool earlier in his career, announces his retirement as a player on his 37th birthday.

In the Second Division, Blackburn suffer a shock 3–0 away defeat to Bristol Rovers, allowing Ipswich Town to draw level on points with them by beating Watford 1–0 at Vicarage Road.

Sheffield Wednesday keep their faint title hopes alive with a 2–0 away win over Tottenham, who now occupy a dismal 18th place in the league and are just five points clear of the relegation zone.

[56] 15 March 1992 – The only league action of the day sees Southampton climb out the drop zone by beating Manchester City 1–0 at Maine Road, with Iain Dowie scoring the only goal of the game.

In the last-ever Full Members Cup final, Nottingham Forest beat Southampton 3-2 after extra time at Wembley, but lose defender Stuart Pearce for the rest of the season with a knee injury.

[5] Ipswich Town have displaced Blackburn Rovers at the top of the Second Division, with the play-off zone occupied by Cambridge United, Middlesbrough, Leicester City and Charlton Athletic.

[66] 5 April 1992 – Sunderland beat Norwich City 1–0 to reach their first FA Cup final since 1973, while Portsmouth draw 1–1 after extra time with Liverpool, whose manager Graeme Souness is rushed to hospital just hours after the game to undergo an emergency heart operation.

[71] 16 April 1992 – Manchester United return to the top of the First Division when an Andrei Kanchelskis goal gives them a 1–0 home win over Southampton and a two-point lead over Leeds, with the advantage of a game in hand.

[72] 17 April 1992 – Cambridge United squander the chance of bouncing back into the Second Division automatic promotion places when they are held to a 2–2 draw at home to Portsmouth, whose own playoff push takes a major blow by the failure to win the game.

Arsenal's Ian Wright leapfrogs Lineker as the First Division's top scorer, with 29 goals, by scoring a hat-trick against Southampton in a 5–1 win at Highbury, in the last game to be played in front of the existing North Bank.

Tottenham Hotspur announce that Doug Livermore will be taking charge of the first team from next season with Ray Clemence as his assistant, while chief executive Terry Venables will be involved in the coaching side of the club again.

12 June 1992 – England are refused permission to make a further addition to their European Championship squad, after Mark Wright was ruled out by injury and manager Graham Taylor had wanted to select Tony Adams in his place.