Coppi had previously been involved in racing as a backer rather than an operator, sponsoring the JB Racing team — later JMB Racing — through his Giesse corporation. In 2004 he elected to take direct control and establish his own racing team, initially targeting the FIA GT Championship with Ferrari machinery.
GPC Sport's debut season saw the team field two Ferrari 575 GTCs and two Ferrari 360 GTCs in the FIA GT Championship. Among the drivers employed were former Formula One racers Emanuele Naspetti and Gianni Morbidelli, alongside Christian Pescatori, Jaime Melo, and Fabrizio De Simone. The 360 GTC drivers took class victories during the season, while the 575 GTCs reached the overall podium on three occasions including a second-place finish at the Spa 24 Hours. The team finished second in the teams' championship — a strong result for a debut season in one of the most competitive GT categories of that era.
In 2005 GPC Sport expanded to run alongside the FIA GT Championship with a campaign in the Italian GT Championship. The FIA GT effort yielded a single podium in each class amid a series of retirements, while the Italian GT programme ran more consistently across the season.
For 2006 GPC Sport dropped the ageing 575 GTC programme and invested in the new Ferrari F430 GT for the Le Mans Series and the newly formed International GT Open. During the Le Mans Series season the team scored class victories including the Ferrari F430's first competitive win in any racing series — a significant milestone for Ferrari's GT racing programme. The team also added two overall victories in International GT Open. That same year GPC Sport took on a separate role representing Maserati in the FIA GT3 European Championship, fielding the Maserati Trofeo Light.
In 2007 GPC Sport added to its International GT Open victory tally and made the team's only appearance at the 24 Hours of Le Mans, from which their Ferrari retired. The team also briefly entered the Speedcar Series, a stock car format, in what was an unusual diversification for a GT-oriented operation.
GPC Sport scaled back significantly in 2008, trimming its presence to two entries in International GT Open. The team was unable to add to its victory tally during what proved to be its final season. At the end of the year the GPC Group went bankrupt, bringing the racing operation to an end. Giampaolo Coppi subsequently moved into a management role with the Roma Racing Team.
GPC Sport's career was brief but commercially serious, reaching the podium at the Spa 24 Hours in its debut season and playing a role in the introduction of the Ferrari F430 to GT racing competition. Its five seasons coincided with a period of Ferrari's sustained GT racing programme in European endurance and sprint formats, and the team's results with the 575 GTC and subsequently the F430 placed it among the more prominent Ferrari-aligned operations of the mid-2000s.