The Sepang Racing Team originated in 2014 when former Grand Prix racer Johan Stigefelt launched a Moto2 outfit backed by Malaysian airline Air Asia, competing with a Caterham bike and finishing sixth in the championship with Johann Zarco and Josh Herrin. The team restructured as the Sepang International Circuit Team for 2015 and built a presence in the Moto3 class, signing Malaysian rider Zulfahmi Khairuddin alongside Czech racer Jakub Kornfeil. Kornfeil claimed two podium finishes and placed twelfth in the championship in that debut lightweight campaign.
Over the following seasons the team continued developing its junior class programs, running Ayumu Sasaki and Adam Norrodin in Moto3. A return to Moto2 in 2018 brought Malaysian hopeful Hafizh Syahrin, who was subsequently released early to take over a Tech 3 Yamaha MotoGP seat, signalling the team's growing ambitions in the premier class.
In July 2018 it was announced that the Sepang Racing Team would step up to MotoGP for the 2019 season. Yamaha agreed to supply leased YZR-M1 machines for three seasons, and Petronas joined as title sponsor, giving the team the Petronas Yamaha SRT identity. The team signed French rookie Fabio Quartararo and Italian Franco Morbidelli as its two riders, an exciting pairing that would prove to exceed expectations almost immediately.
At the 2019 Dutch TT, Petronas deepened its technical involvement by becoming the team's engine oil partner, with the squad switching to Petronas Sprinta lubricants. The team simultaneously maintained its lower-class programs, running a Moto2 entry with Khairul Idham Pawi on a Triumph-powered Kalex, and keeping Sasaki in Moto3 alongside new signing John McPhee. McPhee delivered the team's first Grand Prix victory at the French Grand Prix in the Moto3 class. The team also fielded Bradley Smith in the inaugural MotoE World Series.
From its very first MotoGP season, Petronas Yamaha SRT established itself as a force far beyond typical satellite team expectations. Fabio Quartararo emerged as one of the fastest qualifiers on the grid, repeatedly challenging factory teams and claiming multiple pole positions. Morbidelli's smooth, consistent riding style translated into strong race results and championship points hauls.
The team's trajectory continued upward. Morbidelli won the 2020 MotoGP San Marino Grand Prix and added further victories during that season, ultimately finishing runner-up in the Riders' World Championship — a remarkable result for a satellite squad. Quartararo meanwhile moved to the factory Yamaha team for 2021 after demonstrating world championship pace. Morbidelli was partnered by Valentino Rossi in 2021, the Italian legend's final MotoGP season, in what was a high-profile but ultimately difficult campaign as Rossi retired from the sport at the season's end.
Following Petronas' decision to withdraw its sponsorship at the conclusion of the 2021 season, the MotoGP team was rebranded as RNF MotoGP Racing, with the Malaysian oil giant stepping away from the primary title sponsorship role. The Moto2 and Moto3 programs were disbanded entirely, though much of the Moto3 operation was acquired by former racer Michael Laverty to form a new VisionTrack Honda Moto3 team.
In its three seasons of MotoGP competition, Petronas Yamaha SRT demonstrated that a well-resourced and intelligently managed satellite operation, given quality machinery and the right rider selection, could compete with factory teams at the very highest level. The team gave both Quartararo and Morbidelli the platform to announce themselves as world championship contenders, with Morbidelli's 2020 campaign in particular standing as one of the finest satellite team performances in modern MotoGP history.