[5] The idea, then known as Project Fanchise, was covered by The New York Times with the business concept of a fan-controlled baseball team in 2008, but was written as satirical piece by comedian Steve Hofstetter.

[6] At the time, the project was just a website created by Grant Cohen with investors consisting of lawyers such as Joe Scura.

In 2010, a GOOD Magazine article described the group's business plan, including asking fans to invest in creating or purchasing a minor league baseball team to become publicly owned and operated.

The group created a mobile app for subscribed fans to vote on naming the team, chose its colors, and hire a coach before the season started.

It has since garnered the backing of professional athletes including former and current NFL players Chad Johnson, Marshawn Lynch, and Richard Sherman.

[18] The Wild Aces beat the Glacier Boyz 46–40 in the final, named the People's Championship as voted by the fans, on March 20, 2021.

The defending champion Wild Aces reorganized and rebranded as the Shoulda Been Stars following the departure of one of its co-owners.

On January 12, 2022, the FCF announced a $40 million investment, led by Animoca Brands and Delphi Digital, for spectator-controlled football games.

[28][29] Before the start of the season, it was announced that Pro Football Hall of Famer Terrell Owens, age 48, will come out of retirement to play for the Zappers.

Farudi noted that he had brought on Jerry Kurz, a former Arena Football League executive, to lead the efforts to find franchise owners.