RuSPORT grew out of the assets of Performance Development and Racing (PDR), a team based in Fort Collins, Colorado, owned by Steve Wulff. Russo had driven for PDR in the 2002 Toyota Atlantic Series before concluding that team ownership suited him better than driving. He acquired PDR's assets from Wulff in late 2002, establishing RuSPORT under new management. Wulff stayed on as Operations Director, Gerald Tyler was appointed Technical Director, and Jeremy Dale — a longtime associate of Russo — became President.
RuSPORT entered the 2003 Toyota Atlantic Championship Series with drivers Aaron Justus and A. J. Allmendinger. Allmendinger proved dominant, winning seven races from eleven starts to claim the championship. The result marked RuSPORT as a team of serious ambition and set the stage for a move to Champ Car.
RuSPORT and Allmendinger stepped up to Champ Car in 2004, joined by a second car driven by Michel Jourdain Jr. The team expanded rapidly, growing to more than 40 employees within its debut season. Allmendinger was named Rookie of the Year, only the second time in Champ Car history that a rookie team with a rookie driver had achieved the feat.
Justin Wilson replaced Jourdain for 2005, immediately elevating the team's pace. Wilson scored two victories, at Toronto and Mexico City, and finished third in the championship. Allmendinger came close to victory on multiple occasions, collecting four runner-up finishes during the season, cementing RuSPORT's reputation as a serious challenger to the established Newman/Haas Racing outfit.
Expectations for 2006 were high, but the season took an unexpected turn mid-year when Allmendinger was replaced by 2002 CART champion Cristiano da Matta, who moved across from Dale Coyne Racing despite Allmendinger having strung together three consecutive top-ten results. Da Matta's time with the team was cut short when he was injured in a collision with a deer during a testing session at Road America on 3 August 2006. Australian Ryan Briscoe was brought in to fill the final two races of the season at Surfers Paradise and Mexico City.
At the close of 2006, Russo's energy was increasingly directed toward his growing technology company, Calix, and he sold the team to PKV Racing co-owner Dan Pettit.
Under Pettit's ownership, RuSPORT confirmed Justin Wilson's return for 2007, backed by title sponsor CDW, and reportedly signed him to a multi-year contract. The team also formed a technical alliance with the Rocketsports team, operating under the combined name RSPORTS for much of the year. Wilson won at Assen and scored consistently enough to finish second overall in the Champ Car standings, while co-driver Alexandre Tagliani struggled to match those results. The technical alliance with Rocketsports was dissolved before the season concluded.
RuSPORT ceased operations on 31 December 2007. Dan Pettit merged his team ownership interests with Forsythe Championship Racing, which itself folded when Champ Car merged with the Indy Racing League ahead of the 2008 season.
The team's alumni include A. J. Allmendinger (2003–2006), Justin Wilson (2005–2007), Michel Jourdain Jr. (2004), Cristiano da Matta (2006), Ryan Briscoe (2006), and Aaron Justus (2003).
RuSPORT's most enduring contribution was the development of A. J. Allmendinger, who went on to a lengthy career in NASCAR and IndyCar after leaving the team in 2006. The team's rapid ascent from the Atlantic Series to a top-three Champ Car outfit within two seasons remains one of the more remarkable trajectories in open-wheel racing during the Champ Car era.