As we head closer to Wrestlemania, we are being constantly reminded that Ric Flair is approaching the end of his career. This past Monday night on Raw, Shawn Michaels announced Ric Flair as the first inductee for the 2008 WWE Hall of Fame. This makes Ric Flair the first active wrestler to be inducted into the WWE Hall of Fame.

In recent weeks, we’ve been rewinding to some of Ric Flair’s greatest moments. To keep the tradition going, here is another great Ric Flair moment from the 1992 Royal Rumble; where Ric Flair captured the World Wrestling Federation title to become the undisputed heavyweight champion.

Here is some back-story for this match. Ric Flair joined the World Wrestling Federation in 1991, proclaiming himself “The Real World Heavyweight Champion.” Just months earlier, Flair was a top draw for WCW. Departing WCW stemming from a contractual dispute, Flair jumped to the WWF. Bearing the WCW/NWA World Championship and carrying it on WWF television was huge. Ric Flair instantly became a top heel in the WWF, with Bobby Hennan and “Mr. Perfect” Curt Hennig as his “consultants.”

This all cumulated at the 1992 Royal Rumble, where Ric Flair won the Rumble Match to claim the vacant WWF Championship and become the undisputed champion. Flair lasted 59 minutes, eliminating Sid Justice with help from Hulk Hogan. This was the first and only time the WWF or WWE Championship was on the line in the Royal Rumble match. The championship was vacated in December 1991 because of the controversial finish to the Hulk Hogan vs. The Undertaker match during This Tuesday in Texas.

This is truly a historical moment, with a great post-match promo and video package that follows: