The team was formed in 2004 ahead of the inaugural GP2 season. Their first campaign in 2005 paired Scott Speed and Can Artam, with Speed finishing third in the championship on the strength of consistent points-scoring. For 2006 the team signed Ernesto Viso and Tristan Gommendy, later replacing Gommendy mid-season with Timo Glock. Viso took the team's first two GP2 victories, and Glock added two more, finishing fourth in the standings despite only joining partway through the year.
The 2007 season represented iSport's high-water mark. Timo Glock, retained alongside Andreas Zuber, won five races in a season-long duel with Lucas di Grassi of ART Grand Prix to claim the drivers' title. Zuber contributed a further victory. The pair notoriously collided while accelerating from the front row at Magny-Cours, though this did nothing to derail Glock's championship campaign. iSport also clinched the teams' title for the first time, completing a dominant double.
iSport joined the inaugural GP2 Asia Series in 2008 with Bruno Senna and Karun Chandhok, finishing fifth in the standings. For the 2009–10 Asia Series the team signed Davide Valsecchi and Oliver Turvey: Valsecchi won three races and sealed the drivers' championship, with Turvey taking sixth, and iSport claimed the Asia teams' title. It was the team's final major honours.
The 2008 main series saw Senna and Chandhok retained. Senna emerged as the principal challenger to champion Giorgio Pantano, taking two victories and finishing runner-up; iSport ended the season second in the teams' standings. For 2009 Giedo van der Garde replaced Senna and won three races but could only manage seventh overall, while iSport finished fifth. The 2010 campaign with Valsecchi and Turvey was similarly mid-table.
Sam Bird and Marcus Ericsson joined for 2011 but neither won a race, though iSport moved up to fourth in the teams' championship. The 2012 pairing of Ericsson and Jolyon Palmer each took one victory, but the team slipped to sixth. Financial difficulties led to the team withdrawing before the 2013 season, with their GP2 contract acquired by Russian Time. iSport briefly returned to motorsport in 2014, operating a GP2 entry for Russian Time.
Team principal Paul Jackson publicly evaluated a Formula One entry for several years, stating he would consider the move if the FIA succeeded in implementing a budget cap. When those plans failed to materialise and iSport simultaneously exited GP2, any prospect of an F1 programme was abandoned.
iSport International delivered Timo Glock his GP2 title in 2007, the foundation that earned him a Formula One seat. The team also helped launch the careers of Bruno Senna and Marcus Ericsson in leading junior roles, and its Asia Series campaign gave Davide Valsecchi an international stage ahead of his own GP2 title run. For a team of its resources, iSport's sustained competitiveness across GP2's early years and its clean 2007 championship sweep cement its place among the more notable operations in GP2's history.