The club was formed in 1964 and spent their first two seasons in the Peterborough Sunday League, winning the Division One title at the first attempt and then finishing third in the Premier.

As a consequence, the club found it difficult to hold on to their best players, and the division-winning side dispersed[citation needed].

Their most notable alumni include Malcolm Christie (who moved to Derby County and then Middlesbrough) and Ben Wright (who later played for Viking Stavanger in the UEFA Cup and was also on the books of football league club Lincoln City).

That year saw the installation of floodlights at Outgang Road, which made the club eligible to enter more cup competitions.

As a result, Rangers led the league by twelve points in February 2007, and went on to win the Premier Division championship for the first time.

The following season was a time for consolidation, but the club has the stated ambition to win the UCL Premier Division title again and join near neighbours Stamford at a higher level of football.

Rangers also have healthy rivalries with neighbouring UCL clubs Blackstones (based 10 miles away in Stamford), Boston Town, and also Holbeach United[citation needed].

These enable the club to comply with FA requirements for grounds at higher levels on the pyramid and also make Rangers eligible for cup competitions where floodlights are mandatory.

During summer 2005, the main stand was refurbished adding seats bought from Highfield Road, the former ground of Coventry City prior to their move to the Ricoh Arena.