[1] The team was formed as Reynolds, led by Ángel Arroyo and later by Pedro Delgado, who won a Tour de France and a Vuelta a España, and was subsequently sponsored by Banesto, under which name the team included five-time Tour de France winner Miguel Induráin and Alex Zülle, twice winner of the Vuelta a España.

[4] In 1982 signed a young Pedro Delgado who acted as a domestique for team leader Ángel Arroyo during the 1982 Vuelta a España.

During this time Alex Zülle joined the team and finished the 1999 Tour de France second overall while climber José María Jiménez performed in the Vuelta a España.

The team fielded a number of strong contenders in the 2005 Tour de France including Francisco Mancebo (former National Champion of Spain), Alejandro Valverde, Vladimir Karpets and sprinter Isaac Gálvez.

The Tour victory of Phonak rider Floyd Landis was almost immediately called into question, after a urine sample taken after his Stage 17 win twice tested positive for banned synthetic testosterone as well as a ratio of testosterone to epitestosterone nearly three times the limit allowed by World Anti-Doping Agency rules.

[7] After hearing of the positive "A" test, Pereiro stated that it was only an initial, unconfirmed result and he would not yet consider Landis guilty or himself the Tour winner.

[10] On 31 May 2010, the Court of Arbitration for Sport upheld the appeals from WADA and the UCI regarding the suspension of Alejandro Valverde for his implication in the Operación Puerto doping case.

Valverde was banned for two years, starting 1 January 2010 and after serving the two-year suspension returned to competition in 2012 riding for the Movistar Team.

[11][12] The 2011 season proved to be a transitional one for the team, with their first victory coming as a single stage win in the Tour Down Under, courtesy of Francisco José Ventoso.

The team scored multiple overall classification victories; Quintana claimed the Route du Sud, Rui Costa the Tour de Suisse, Javier Moreno the Vuelta a Castilla y León and finally Beñat Intxausti won the Vuelta a Asturias.

Intxausti got the team's final overall win of the year and Costa won the UCI World Road Race championships.

As with the previous season, Quintana defended his Vuelta a Burgos title winning it for the second straight year.

In August 2014, the team announced the signing of Marc Soler (Lizarte)[14] and Rubén Fernández (Caja Rural–Seguros RGA) on a 2-year contract.

Nairo Quintana made the podium by finishing third overall in the general classification standings and Ion Izagirre claimed victory on stage 20.