The Barracudas were one of the fifteen original teams to join the AF2 in its inaugural 2000 season.

Pensacola originally played in the National Conference and won its first five games en route to the playoffs before losing to the eventual undefeated champion Quad City Steamwheelers.

Prior to the 2001 season, the Barracudas moved to the American Conference.

After switching back to the National Conference in 2002, the Barracudas matched their first season's record by again finishing 8-8, but failed to make the playoffs again.

The team's turf was later used by the Wisconsin Wolfpack of the Continental Indoor Football League.