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In 1992, the First Division clubs resigned from the Football League en masse and on 27 May 1992 the FA Premier League was formed as a limited company working out of an office at the Football Association's then headquarters in Lancaster Gate. This meant a break-up of the 104-year-old Football League that had operated until then with four divisions; the Premier League would operate with a single division and the Football League with three. There was no change in competition format; the same number of teams competed in the top flight, and promotion and relegation between the Premier League and the new First Division remained the same as the old First and Second Divisions with three teams relegated from the league and three promoted.

When was the FA Premier League formed as a limited company?
on 27 May 1992 the FA Premier League was formed as a limited company working out of an office at the Football Association's then headquarters in Lancaster Gate.