Gottfried Armin Grasser was born on 8 December 1978 in Leoben, Styria, Austria. He began karting in 1997 and progressed to single-seater racing, competing in Formula König in 1999 and 2000 and finishing third in the rookie standings in his debut season. In 2001 and 2002 Grasser joined Team Ghinzani for a German Formula 3 campaign and tested both a Formula 3000 car and the Minardi Formula 1 car. He subsequently stepped away from professional driving to take over his parents' Mazda dealership, before returning to motorsport as a team owner.
In 2004 Grasser began development of a modified Ultima GTR, building a bespoke racing variant with crashboxes, a flat bottom, diffuser, and a Porsche engine developed by Richmond Racing Engines. The car was tested at the Pannónia-Ring and competed in the Spezial Tourenwagen Trophy and other national series through the mid-2000s. This period laid the operational and engineering foundation that Grasser later applied to professional GT3 competition.
GRT acquired a Lamborghini Gallardo LP520 for the 2012 ADAC GT Masters, later switching to the newer Gallardo LP600+ developed by Reiter Engineering. The 2013 season marked the team's first meaningful results in the Blancpain Sprint Series, where Hari Proczyk and Dominik Baumann were successful in the Pro-Am category, winning one class race and finishing fifth overall. In 2014 Jeroen Bleekemolen joined Proczyk in the second car; the duo won four races and finished third in the drivers' championship. Sascha Halek and Stefan Landmann claimed second in the Pro-Am Trophy with the sister entry.
From 2015 onward, Grasser Racing entered the new Lamborghini Huracán GT3 with factory backing from Lamborghini. The team's first outing with the car immediately produced a home victory at Monza in the Blancpain Endurance Series. Over subsequent seasons the team accumulated multiple wins across the Blancpain Sprint and Endurance cups.
In 2017, GRT achieved its most comprehensive European season, winning the overall Drivers' title in both the Blancpain GT Series and the Blancpain GT Series Endurance Cup, as well as the Teams' championship in the Blancpain GT Series — a treble that cemented the team's status as one of Europe's premier GT3 operations.
On 28 January 2018, GRT won the GTD class at the 24 Hours of Daytona — the opening round of the WeatherTech SportsCar Championship — with drivers Mirko Bortolotti, Rik Breukers, Rolf Ineichen, and Franck Perera. The team repeated the feat in 2019, again claiming the GTD class victory at Daytona. Later in 2019, GRT also won the 12 Hours of Sebring in the GTD class, completing an extraordinary run of endurance success in North America. These results confirmed the team's ability to compete and win at the highest level of GT3 racing across both continents.
From 2020 onward the team shifted its focus toward the ADAC GT Masters and the WeatherTech SportsCar Championship, reducing its European endurance calendar while maintaining a consistent North American presence. The team also contested the DTM when it adopted GT3 regulations.
Grasser Racing Team's trajectory from a small Austrian privateer running a modified kit car to a Lamborghini factory-backed squad that won back-to-back Daytona GTD crowns is one of the more remarkable stories in GT3 racing. The team's 2017 Blancpain treble and consecutive Daytona victories in 2018 and 2019 represent the high-water mark of Lamborghini's customer racing programme during that era. Gottfried Grasser's dual role as founder, team principal, and occasional driver has remained a defining feature of the operation throughout its competitive life.