Source: The Wrestling Observer Newsletter
The original plan was to hold the Hall of Fame ceremony in New Jersey where the rest of WrestleMania weekend activities will be. Due to several issues, WWE moved the event to Madison Square Garden.
At this time, Mick Foley, Kevin Nash and Bob Backlund have all been rumored to be inducted in this year's class. WWE wanted Bruno Sammartino for the 2013 ceremony but that obviously doesn't look like it's going to be happening with Bruno's issues with Vince McMahon. As noted before, Sammartino has no issues with Triple H. Triple H is the one who called him several months ago and they had a very productive talk, but Sammartino wants nothing to do with the Hall of Fame as long as Vince McMahon is a part of things.
There have also been talks about inducting the Ultimate Warrior. Some feel that while Warrior may agree to the induction, that there is a certain level of risk in working with him. Warrior has a history of being difficult to work with, and some within management are nervous of Warrior agreeing to do the induction and then later backing out.