Founded in 1986, the Lancers play at the Liberty First Credit Union Arena in Ralston, Nebraska.

In 2014, the majority ownership of the Lancers was bought by Crossbar Down, LLC, led by Anthony DiCesare, from the American Hockey Group, Inc, who had owned the franchise since 2004.

The league then postponed the three scheduled weekend games and placed team president Dave DeLuca on administrative leave.

[5][6][7] Former Fort Wayne Komets' head coach Gary Graham was then brought in as interim head coach and the league designated Josh Mervis to oversee operations of the team while an investigation into the operations of the team was underway.

[8] In January 2022, the majority ownership of the Lancers was transferred from Anthony DiCesare to Mike Picozzi.