MB2 Motorsports was based in Mooresville, North Carolina, near NASCAR's Charlotte hub. The team began with a No. 36 Pontiac in 1997 with driver Derrike Cope and Skittles candy as the primary sponsor. Ernie Irvan took over in 1998, highlighted by a pole win at the Brickyard 400, before M&M's replaced Skittles as the sponsor in 1999. Irvan retired in September 1999 after a crash at Michigan International Speedway, and journeyman Jerry Nadeau stepped in for the remainder of the season.
Ken Schrader drove the No. 36 for three seasons from 2000 through 2002. In 2003, the car was renumbered 01 to coincide with a new sponsorship from the United States Army and its "An Army of One" branding. Nadeau returned as driver for 2003, but suffered severe injuries in a practice crash at Richmond International Raceway in May — skull fractures, broken ribs, a collapsed lung, and temporary paralysis — forcing him into retirement. A sequence of substitute drivers completed the season, including Mike Wallace, Mike Skinner, and Boris Said, who won the pole and finished sixth at Sonoma.
MB2 Motorsports purchased the unsponsored No. 10 Tyler Jet Motorsports entry in mid-2000, retaining driver Johnny Benson. Aaron's and RCA sponsored the car through the end of 2000, and Valvoline stepped in as the primary sponsor for 2001. Valvoline's involvement went beyond sponsorship: the corporation acquired an ownership stake in the team — the first time a corporation owned a stake in a NASCAR Cup team — and the No. 10 entry was renamed MBV Motorsports to reflect the partnership, though it remained part of the MB2 umbrella organization.
Benson drove the Valvoline car through 2003, with Valvoline as a co-owner each season. His tenure produced a career-defining moment in November 2002 at the Pop Secret 400 at Rockingham, where he claimed his first and only Cup Series victory. Both Benson and Valvoline returned for 2003, but midway through the season the team announced it would part ways with Benson at year's end.
Scott Riggs replaced Benson for 2004. Pontiac's exit from NASCAR forced the team to switch to Chevrolet. Riggs had only two top-ten finishes and eight DNFs in a difficult rookie season, finishing twenty-ninth in points. In 2005, Riggs improved slightly — winning the pole at Martinsville and finishing fourth at Daytona — but recorded seven DNFs and finished thirty-fourth in points. Valvoline sold its ownership stake back to MB2's principals at the end of 2005 and ended its sponsorship, taking Riggs to Evernham Motorsports. The MBV Motorsports name was retired with Valvoline's departure.
For 2006, veteran Sterling Marlin moved from Chip Ganassi Racing to drive the No. 14 for MB2 (renumbered from 10 in tribute to Marlin's late father, Coo Coo Marlin). The team recorded only one top-ten finish and ranked thirty-fourth in season points. Marlin returned for 2007, but the team struggled further and Marlin was set to be replaced by Regan Smith.
In 2007, Bobby Ginn acquired majority control of MB2 with his family holding 80 percent ownership, renaming the operation Ginn Racing for one season. The team fielded multiple cars including the No. 01 (shared between Mark Martin for 23 races and Regan Smith for 16), the No. 13 for Joe Nemechek, and the No. 14. Martin nearly won the 2007 Daytona 500, leading in the final turn before Kevin Harvick edged him at the line by two-hundredths of a second.
On July 25, 2007, Ginn Racing announced a merger with Dale Earnhardt, Inc. The No. 01 team joined DEI's existing operations, while the No. 13 and No. 14 teams were disbanded. The combined organization was eventually absorbed into a further merger with Chip Ganassi Racing in 2009, which became Earnhardt Ganassi Racing before reverting to the Chip Ganassi Racing name.
The MB2/MBV/Ginn Racing organization ran a long list of drivers across its decade of operation, including Ernie Irvan, Ken Schrader, Jerry Nadeau, Johnny Benson, Joe Nemechek, Boris Said, Scott Riggs, Sterling Marlin, Bill Elliott, Mark Martin, and Regan Smith. Joe Nemechek won the team's most significant Cup race — the 2004 Banquet 400 at Kansas Speedway — completing a weekend sweep after also winning the Busch Series race the day before.
MB2 Motorsports occupies a modest but noteworthy place in early-2000s NASCAR history as the first team with corporate co-ownership and as the home of Johnny Benson's lone Cup victory. Its later Ginn Racing iteration brought Mark Martin within inches of the Daytona 500 title in what was supposed to be his first semi-retirement season.