[1][2] It was founded by pharmaceutical entrepreneur Don Panoz in 1999 after reaching an agreement with the French-based 24 Hours of Le Mans organiser Automobile Club de l'Ouest to form a new sports car series based on the Le Mans rulebook that would serve as a local hub for North American entrants.
[1][2] It featured several championships awarded by IMSA to the most successful competitors within each of the racing categories used by the series each season.
Individual championships were awarded for being the top point scoring drivers and teams as well as chassis, engine, and tire manufacturers.
The champions were not formally crowned until the ALMS awards banquet after the season's final race.
For the 2011 season, due to a lack of manufacturer supported teams in the ALMS, the IMSA Cup was not awarded.