In 1995, Amato Ferrari retired from driving to concentrate on team management, initially entering the Italian Superturismo Championship. Following that series' demise in 1999, he launched AF Corse — "AF Racing" in English. The team turned to sports car racing and was soon contracted by Maserati to handle the development, maintenance, and transport of the Trofeo Cup, a one-make series based on the Maserati Coupé. The company held this position until 2005.
During 2004, Maserati approached AF Corse to run the new Maserati MC12 for the FIA GT Championship. The team aided in testing and development before entering two cars at Imola. Drivers Fabrizio de Simone, Andrea Bertolini, Mika Salo, and Johnny Herbert earned the team two victories before the season ended. AF Corse then returned to the Trofeo Cup and also ran a Maserati Light in the 2005 Italian GT Championship.
AF Corse returned to the FIA GT Championship in 2006, this time running the Ferrari F430 in the GT2 class. Mika Salo, Rui Águas, Jaime Melo, and Matteo Bobbi delivered victories on debut at Silverstone and at the Spa 24 Hours, securing the class championship ahead of fellow Ferrari competitor Scuderia Ecosse. The team also maintained its Maserati connection by entering three cars in the new FIA GT3 European Championship.
As defending champions, AF Corse remained in the FIA GT Championship in 2007 with the Ferrari F430. New drivers Dirk Müller, Toni Vilander, Gianmaria Bruni, and Stephane Ortelli dominated the season, winning nine of the ten events on the schedule to secure another championship. Motorola announced full sponsorship of the squad that year. For 2008, the team expanded to three cars in the GT2 class, including a third entry under the Advanced Engineering name for Matías Russo and Luís Pérez Companc.
Following the dissolution of the FIA GT Championship in 2010, AF Corse joined the Le Mans Series, fielding three Ferrari F430 GT2s. Drivers Matías Russo and Luís Pérez Companc campaigned the #94 Ferrari; Toni Vilander and former Grand Prix drivers Jean Alesi and Giancarlo Fisichella drove the #95; while ALMS regulars Jaime Melo and Gianmaria Bruni from the Risi Competizione team drove the #96.
In 2011, AF Corse entered the Intercontinental Le Mans Cup (ILMC) with the new Ferrari 458 Italia GT2 and the FIA GT3 European Championship with the 458 Italia GT3. The team won the ILMC GTE-Pro category, including the final round at Petit Le Mans, and also won the FIA GT3 driver's championship with Francisco Catellaci and Federico Leo. The team also participated in the International GT Open from 2010, fielding Ferrari GT2 cars under various entries including the AT Racing banner for Alexander Talkanitsa and his son Alexander Talkanitsa Jr.
In 2012, AF Corse competed in the FIA World Endurance Championship and GT1 World Championship. At the 24 Hours of Le Mans, amateur driver Piergiuseppe Perazzini collided with the No. 8 Toyota driven by Anthony Davidson, sending the Toyota airborne at the Mulsanne Corner. Davidson suffered two broken vertebrae but was able to pull himself from the car. Despite this incident, the AF Corse #51 car — driven by Gianmaria Bruni, Giancarlo Fisichella, and Toni Vilander — won the GTE Pro race, beating Corvette, Porsche, and Aston Martin.
In 2023, AF Corse and Scuderia Ferrari announced a partnership to field the 499P hypercar in the FIA World Endurance Championship. The team won at Le Mans that year in the centenary edition, marking Ferrari's first victory in the top class at the event in 50 years. For 2024, a yellow-coloured privateer entry was added with Robert Kubica, Robert Shwartzman, and Yifei Ye piloting the #83 machine. The #83 led much of the 2024 Le Mans before retiring with a motor–generator unit fault.
In 2025, the yellow #83 won at Le Mans. Between 2023 and 2025, each of the three AF Corse cars — #51, #50, and #83 — won the race in consecutive years. All nine works drivers earned a Le Mans victory across that span: Antonio Fuoco, Miguel Molina, and Nicklas Nielsen in the #50; Alessandro Pier Guidi, James Calado, and Antonio Giovinazzi in the #51; and Robert Kubica, Yifei Ye, and Phil Hanson in the #83.
AF Corse-Waltrip was a professional sportscar team formed as a 50–50 partnership between Michael Waltrip and Rob Kauffman, co-owners of Michael Waltrip Racing in NASCAR. Beginning in 2011, the team used a technical alliance with AF Corse to race Ferraris in the FIA World Endurance Championship and Rolex Sports Car Series. The partnership was dissolved in 2013 when the owners chose to concentrate on NASCAR.
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