The 1992 British League Division Two season was contested as the second division of Speedway in the United Kingdom.

Summary

The title was won by the Peterborough Panthers. Mildenhall Fen Tigers and Milton Keynes Knights both withdrew from the league in June and their results were expunged. The BSPA withdrew the Milton Keynes speedway licence following complaints over the state of the track and several days later on 24 June, the club was wound-up. The season had a sad end when on 13 September Wayne Garratt crashed riding for Newcastle Diamonds against Peterborough. He suffered a brain injury and was placed on a life support machine but died 15 days later.

Final table

British League Division Two Knockout Cup

The 1992 British League Division Two Knockout Cup was the 25th edition of the Knockout Cup for tier two teams. Peterborough Panthers were the winners of the competition. First round Quarter-finals Semi-finals

Final

First leg Second leg Peterborough were declared Knockout Cup Champions, winning on aggregate 99–81.

Final leading averages

Riders' Championship

Róbert Nagy won the Riders' Championship. The final sponsored by Jawa Moto & Barum was held on 19 September at Brandon Stadium.

Fours

Peterborough Panthers won the fours championship final, held at the East of England Arena on 26 July. Final

Riders & final averages

Berwick Edinburgh Exeter Glasgow Long Eaton Middlesbrough Mildenhall (withdrew from league) Milton Keynes (withdrew from league) Newcastle Peterborough Rye House Sheffield Stoke