On December 7, 1982, the Canadian Professional Soccer League announced their initial five ownership groups, of which one was to be headed by Bob Laker in Montreal.

[2][1] He immediately set out on high-profile acquisitions, with the team having a reported $1.2 million budget,[3] hiring former New York Cosmos and Montreal Manic coach Eddie Firmani and signing former Manic star players Gordon Hill and Bobby Vosmaer.

[4] Their home opener took place at Jarry Park Stadium on June 5, 1983, against the Hamilton Steelers with Laker claiming an attendance of 12,412, which would have been larger than any Manic crowd that season.

[4][5] In their first match they managed to defeat Marseille 2–0 on June 13, advancing to the final a week later where they defeated Udinese in a penalty shootout following a 1–1 score after regulation on June 19, with British striker Gordon Hill scoring all of the team's goals in the tournament.

[2][4][6] However, just a week after their match against Udinese, and after only five weeks of play and eight league matches, Inter-Montreal folded midway through the season, due to heavy financial losses and being unable to pay their players and partially as a result of the money spent on the international exhibition tournament.