The club was founded in 1937 as the Folkare Motorklubb but their first track was not built until 1948. Masarna joined the Swedish second division in 1958 and remained there until gaining promotion to the Elitserien in 1999. They won their first Elitserien championship in 2000 and their second in 2004. Masarna were relegated in 2008 to the Allsvenskan after finishing bottom of the Elitserien table although they had already announced their intention to drop a division for the 2009 season. Since relegation, Masarna have been declared bankrupt with debts of 1.5 million SEK (GBP£120,000).