Originally adopted and introduced in 2003, the concept was aimed to provide elite football opportunities to all players who wanted to achieve and play the best possible standard without having to leave Taranaki.

The side continued playing under the Taranaki name for sponsorship purposes until the team was discontinued in 1984 with Old Boys retaining the Central League position.

In 2006, they were promoted to the Central League and enjoyed four successful seasons competing against some of the most prestigious club teams in the country including Miramar Rangers, Napier City Rovers, Wellington Olympic and Western Suburbs.

However, Gisborne City elected not to exercise their right to promotion as part of a club rebuilding strategy, and as such Team Taranaki were allowed to remain in the competition.

In 2010, the team was relegated to the Central Football region Federation League and commenced a rebuilding programme involving a new generation of young talent, which has seen incremental improvement in successive seasons, finishing 5th in 2011, 4th in 2012 and 3rd in 2013.

In 2014, Team Taranaki finished Runners Up to Wanganui Athletic losing narrowly in the final game of the season, having led the competition from the start.