The B98/10 was designed as a cost-effective prototype intended for privateer teams and a variety of racing series. Unique design elements included blunt front fenders with side-mounted headlights, allowing for a large splitter across the nose. Air intakes were positioned underneath the rollbar, similar to open-wheel race cars.
A Roush-designed Ford 6.0 Litre V8 engine was the intended powerplant, but the chassis was adaptable to other engines, including a turbocharged Ford V6, a Lotus V8, a Chevrolet V8, a BMW Inline-6, and a Judd V10. Minor modifications were needed for some engines, such as incorporating turbo intakes into the bodywork for the turbocharged Ford V6.
The first B98/10 chassis was completed in the fall of 1998 and tested by Dyson Racing after Petit Le Mans. The car’s competitive debut came in 1999. Intersport Racing and Konrad Motorsport were the first customers, with Konrad opting for a Lotus engine. Both teams debuted at the 24 Hours of Daytona in the Can-Am class of the United States Road Racing Championship, but both cars retired due to mechanical issues.
At the 12 Hours of Sebring, joined by Team Cascadia running a BMW engine, Intersport achieved a 19th-place finish. Further teams including Multimatic Motorsports and the Whittington Brothers entered the series, with Team Cascadia later upgrading to a Chevrolet V8.
In Europe, DAMS and Kremer Racing debuted two more B98/10s in the International Sports Racing Series, with DAMS utilizing a Judd GV4 V10. While American teams struggled against factory entries from Audi, BMW, and Panoz, the European teams found success. DAMS secured four wins, finishing third in the teams championship. DAMS, Kremer, and Konrad Motorsport (now using a Ford V8) also entered the 1999 24 Hours of Le Mans, but none finished the race.
The B98/10 was largely replaced by the B2K/10 in 2000, but continued to compete. Kremer Racing upgraded their car, designating it the B98/K2000, and won the final race of the Sports Racing World Cup. In North America, Intersport Racing and Multimatic Motorsports participated in select races in the Grand American Road Racing Championship and American Le Mans Series, while Konrad Motorsport competed on both continents.
In 2001, Kremer Racing was the only team still competing with a B98/10 in the FIA Sportscar Championship, achieving points in only two rounds. A unique entry occurred in 2002 when two chassis were purchased. Eventus Motorsport of Germany ran select FIA Sportscar Championship races, while Bob Berridge Racing had a special purpose. With assistance from DAMS, they received permission to enter the 24 Hours of Le Mans to film scenes for a movie based on the Michel Vaillant comic book, with the B98/10 representing the hero’s car, Vaillante, and a Panoz LMP-1 Roadster-S portraying the villain’s car, Leader. The B98/10 carried film equipment throughout the race, impacting its competitiveness.
The Lola B98/10 made a final appearance at the 2003 FIA Sportscar Championship Donington round before its retirement from competition.