Originally conceived in 1993, the game was announced in early 1994 and showcased at SCES '94 but the project would be later cancelled in 1995 after various delays and expenses, despite being close to completion.

[4][5][6][7][8] Although unreleased, a playable prototype has since been released and sold online by independent groups such as the defunct Jaguar Sector II website and later B&C Computervisions.

[6][15][16] In an article on their December 1994 issue, VideoGames magazine discussed with the developers of the then-upcoming game, revealing Ted Keenan and Jerry Trice as the producer and designer of the project respectively.

[17] After both the showcase at SCES '94 and VideoGames' December 1994 article, the game went unnoticed, though it kept being advertised as an upcoming 1995 title for the system in magazine adverts and catalogs.

[3][20] However, due to difficulties when programming for the system, missing deadlines and Atari Corp. discontinuing the hardware were the reasons for the project's cancellation after a year of development, despite being close to completion.

[22] An unfinished build of Arena Football '95 would see the light of day on July 15, 2006 when the defunct Jaguar Sector II website released 35 copies of the title including box and manual for US$50.