Jorge Martínez, known in racing circles as Aspar — a contraction of the Spanish words for "God willing" — created the team in 1992 while still competing himself, initially on a Honda RS125R. For 1993 the operation expanded into the 250cc class with Juan Borja. Through the mid-1990s Aspar switched to Yamaha TZ125 machinery in the 125cc class before beginning an eighteen-year association with Aprilia in 1996. The Aprilia partnership brought riders such as Fonsi Nieto and Arnaud Vincent through the junior ranks, and from 2000 Alex Debón competed in 250cc for the team.
Between 2006 and 2011 the Aspar team won four World Championship titles in the 125cc class: Álvaro Bautista in 2006, Gábor Talmácsi in 2007, Julián Simón in 2009, and Nicolás Terol in 2011. Riders who competed in the 250cc class for Aspar during this era included Toni Elías, Alex de Angelis, Sebastián Porto, and Randy de Puniet. In the inaugural Moto2 season (2010) Simón finished runner-up, competing on Honda-powered RSV Motors frames before switching to a Suter chassis mid-season.
The team returned to championship-winning form in 2020, when Albert Arenas took the Moto3 Riders' Championship. Izan Guevara repeated the feat in 2022, and David Alonso secured a third title in the category in 2024 — setting records for most overall Moto3 wins, most consecutive wins, and most victories in a single season across all classes.
Aspar entered the MotoGP premier class in 2010 with Héctor Barberá on a Ducati Desmosedici GP10, finishing twelfth in the standings. Barberá remained for 2011, achieving a best result of sixth at the Spanish Grand Prix. For 2012 the team switched from Ducati to ART machinery and expanded to two bikes, with Aleix Espargaró and Randy de Puniet dominating the CRT (Claiming Rule Teams) sub-classification for two consecutive seasons. Espargaró claimed three straight CRT titles during his time with the squad.
In 2014 Aspar transitioned to Honda machinery, signing former MotoGP world champion Nicky Hayden alongside Hiroshi Aoyama. Eugene Laverty joined for 2015, Hayden's final season in the World Championship before he moved to Superbike racing. The team continued fielding MotoGP entries through the CRT and Open class eras.
Before the 2018 season the team changed its name from Aspar Racing Team to Ángel Nieto Team, in tribute to Spain's most decorated Grand Prix motorcycle racer, Ángel Nieto, who had died in 2017. The renaming was arranged by former team principal Jorge Fernandez to honour his late compatriot, with Ángel's son Gelete Nieto appointed as team principal. The Ángel Nieto name was used through 2019. At the start of the 2020 season the team reverted to its original Aspar designation.
Aspar joined the newly created MotoE World Championship in 2019, fielding Nicolás Terol and María Herrera. The electric single-make series became part of the team's portfolio alongside its Moto2, Moto3, and eventual standalone programmes.
In 2024 the team began a partnership with Chinese motorcycle manufacturer CFMoto, with the collaboration extended through 2031. The deal marked one of the most significant manufacturer partnerships in the team's history outside its long Honda and Aprilia associations. Aspar continues to compete in Moto2 and Moto3, with a record of consistent championship contention across three decades.
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