This Royal Rumble match was notable as for the first time, the winner would win the WWF Championship, which had been vacated in December 1991.

In other featured matches on the undercard, The Natural Disasters (Earthquake and Typhoon) had a WWF Tag Team Championship match against current champions The Legion of Doom (Hawk and Animal), The Beverly Brothers (Blake Beverly and Beau Beverly) took on The Bushwhackers (Bushwhacker Luke and Bushwhacker Butch) in a tag team match, and Roddy Piper took on current WWF Intercontinental Heavyweight Champion The Mountie with the title on the line.

The Royal Rumble is an annual gimmick pay-per-view (PPV) produced every January by the World Wrestling Federation (WWF, now WWE) since 1988.

However, as the WWF World Heavyweight Championship had been vacated, the vacant title became the prize of the 1992 Royal Rumble match.

[2][3] Prior to the event, it was announced the winner of the Royal Rumble would win the vacant WWF World Heavyweight Championship, which had been stripped from Hulk Hogan after two controversial title switches between Hogan and the Undertaker, first at the 1991 Survivor Series and later at the Tuesday in Texas pay-per-view event.

WWF president Jack Tunney gave Hogan and Undertaker an advantage in the random draw to determine the order in which wrestlers would enter the ring, promising them numbers between 20 and 30.

29 and was among the final four wrestlers, along with Hogan, Randy Savage, although he jumped outside the ring to hit Jake the Snake Roberts and Flair.

In his book, To Be The Man, Ric Flair mentions not knowing he was going to be winning the Royal Rumble (WWF Title) until arriving at the arena the day of the event, and also felt he was brought in at number three in order to showcase his skills and endurance to the WWF audience, who may not have watched his work in Jim Crockett Promotions and World Championship Wrestling.

[9][10][11] This was the first Royal Rumble in which stakes were involved for the winner—the stipulation in which the winner would face the WWF/WWE World Heavyweight Champion at WrestleMania first took place at the following year's event.