The list of previous King of the Ring winners reads like a veritable who's who of legendary WWE wrestlers (and Mabel). The participants in this year's tournament have not yet been revealed, but if history is any indicator, WWE could very well use the event as a way to push a new face as a top star.
WWF (and later WWE) ran the King of the Ring tournament every year from 1985 to 1989 at live events. Beginning in 1993, the King of the Ring became an annual pay-per-view, which ran all the way through 2002. Since 2002, the tournament has only ben held three times. The most recent King of the Ring was Sheamus, who won the crown in 2010 and briefly tried to run with a "King Sheamus" gimmick.
Credit : http://www.sbnation.com