Jay Robinson Racing had a long history in NASCAR's secondary series dating to the early 2000s, running the No. 28 in the Nationwide Series with drivers including Kenny Wallace, who achieved the team's best Nationwide Series finish of third place at Memphis Motorsports Park in 2008. Robinson reorganised under the Premium Motorsports name when returning to a more sustained Cup Series presence, initially fielding cars under numbers including 49 and 66 before stabilising around the No. 15 and No. 55.
The team's full-time Cup presence grew substantially from 2015 onwards. Robinson acquired the No. 62 entry and associated owner points from Tommy Baldwin Racing after the 2014 season and expanded operations by bringing in collaborations with Michael Waltrip Racing equipment following that team's closure. The team regularly operated with limited budgets, fielding experienced part-time drivers and rotating sponsors across multiple car numbers.
A significant moment for the team's profile came at the 2017 Daytona 500, when the No. 15 car — driven by Michael Waltrip in what proved to be his final NASCAR race — avoided the late-race chaos to finish eighth, a career-best result for the team at the time. The No. 7 entry gained major attention for the 2018 Daytona 500 when Danica Patrick drove it in her final NASCAR start, bringing GoDaddy sponsorship and a car prepared by Richard Childress Racing.
Ross Chastain drove the No. 15 full-time in 2018, recording the team's best non-superspeedway result at Dover with a twentieth-place finish in his Cup Series debut for the team. Chastain returned for a full 2019 season, scoring a first top-ten finish at Daytona and a career-high fourth at Sonoma Raceway, demonstrating genuine pace on road courses.
Brennan Poole was confirmed as the full-time No. 15 driver for 2020, but the team's operations were acquired by Rick Ware Racing just three weeks into that season.
On September 21, 2017, Robinson announced the acquisition of all assets from Tommy Baldwin Racing, including cup series inventory, race vehicles, and equipment previously used by TBR's No. 7 team. The acquisition folded the Tommy Baldwin Racing operation into Premium Motorsports' stable.
On November 27, 2019, NASCAR imposed penalties on Premium Motorsports, Rick Ware Racing, and Spire Motorsports for manipulating finishing order at Homestead. Premium Motorsports was docked 50 owners' points and fined 50,000 dollars, while competition director Scott Eggleston was suspended indefinitely and fined an additional 25,000 dollars.
Alongside its Cup activities, Premium fielded truck series entries under the No. 94 and later No. 49, running drivers including Travis Kvapil, Timmy Hill, Wendell Chavous, and Gray Gaulding. The truck programme shut down after 2018 as Robinson concentrated resources on the Cup Series. The team also maintained limited Nationwide and Xfinity Series involvement through Jay Robinson Racing entries across various years.
Premium Motorsports was representative of the independent, low-budget end of the NASCAR Cup Series field — providing race starts and development opportunities for a wide range of drivers across nearly a decade of Cup competition. Its absorption into Rick Ware Racing in 2020 followed the broader industry trend of independent team consolidation under the charter system that had reshaped the back of the Cup Series grid since 2016.