On 16 November 2019, Bangladesh Cricket Board (BCB) announced Incepta Pharmaceuticals as the sponsor of the team, and it was renamed to Rangpur Rangers.

The team ownership was transferred to Sohana Sports which is now managed by Bashundhara Group, a pioneering conglomerate of Bangladesh.

The team began its league run with Nasir Hossain as their icon player, and Abdur Razzak (cricketer) as the captain.

This season Rangpur Riders hired Shane Jurgensen as their head coach to make a tough team as per their promise in the Player Draft.

This season they did pick some well known local players, like- Shakib Al Hasan, Arafat Sunny, Soumya Sarkar, Al-Amin, Saqlain Sajib and few more, along with some classy international T20 specialist Lendl Simmons, Darren Sammy, Sachithra Senanayake, Mohammad Nabi with some experienced face, like Misbah-ul-Haq.

The team rearranged its playing squad, with Shahid Afridi, Soumya Sarkar, Mohammad Shehzad and many other acclaimed cricketers.

The club also included rising star Babar Azam, hard-hitting all-rounder Dasun Shanaka in their squad and signing Sohag Gazi and Rubel Hossain proved beneficial for the bowling attack.

The Riders started the season strong with a dominating victory against Chittagong Vikings, winning the match by 9 wickets with Mohammad Shahzad scoring 80 runs.

They signed Jamaican t20 specialist, Chris Gayle, one of the cleanest hitter of the cricket ball, former New Zealand captain and opener Brendon McCullum and Lankan genuine swinger, Lasith Malinga They also signed two English seam bowling all-rounder David Willey and Ravi Bopara.

They picked English batter Sam Hain, Afghan batting all-rounder Samiullah Shenwari, experienced orthodox spinners Abdur Razzak (cricketer) and more from the draft.

Riders have retained Mashrafe Mortaza, Mohammad Mithun, Nazmul Islam, Ravi Bopara and Chris Gayle.

Subsequently, in September 2019, BCB made some changes in rules and regulations for this season and eliminating all franchises, BCB took over the charge of the current BPL and decided to run this current tournament by the board itself and named the tournament as Bangabandhu BPL T20 2019 in order to pay homage to Sheikh Mujibur Rahman on his birth centenary.

Overseas Players include Babar Azam, Mohammad Nabi, Azmatullah Omarzai, Jimmy Neesham as well as Imran Tahir.