The franchise is owned by AKHTAR Group which was founded in 2019 and operates under Delta Sports Ltd. The Challengers started its journey with participating in the special edition Bangabandhu BPL 2019-20.

The team had a good season when they made it to the playoffs of BANGABANDHU BPL T20 in 2019. T20 stars like Mahmudullah Riyad, Chris Gayle, Imrul Kayes, Nasir Hossain, Liam Plunkett, Lendl Simmons, Rubel Hossain, Avishka Fernando, and many others were part of the team. Challengers have adopted the philosophy of #Born2Win, which resembles both on and off the field - Born to love, Born to lead. Born to shine, Born to succeed.