Thespakusatsu Gunma

The club was founded in 1995 in Kusatsu, one of the most well-known spa resorts in Japan, as Liaison Kusatsu Football Club. The players were students of the specialized training college Higashi Nihon Soccer Academy. When the school closed in 1999 due to financial difficulties, the players decided to stay in Kusatsu and keep the club alive. In 2002, the club was incorporated as K.K. Kusatsu Onsen Football Club with a future promotion to the J. League in mind and adopted the new team name Thespa Kusatsu (ザスパ草津, zasupa kusatsu), meaning "The Spa, Kusatsu".

Because of J. League restrictions on stadiums, they play at Shoda Shoyu Stadium Gunma (Shikishima Athletics Stadium) in nearby Maebashi, the prefectural capital since the club were promoted to J. League Division 2 in the 2005 season.

From 1 February 2013, the club adopted the new name "Thespakusatsu Gunma", to give the impression of the club as a representative of the entire Gunma Prefecture, while still leaving the name "Kusatsu" in it, as well as the logo of the club as it is.

After 12 years spent in the J2 League, Thespakusatsu Gunma were relegated to the J3 League for the first time in their history, having finished in last place in the 2017 J2 League. Gunma returned to the J2 League ahead of the 2020 season after being promoted back to J2 after two years spent in J3.

On 5 October 2023, Thespakusatsu Gunma announced officially, a change of name and logo to Thespa Gunma commencing from the 2024 season, dropping the "Kusatsu" which was included in the name since 2005.

On 29 September 2024, Thespa Gunma were officially relegated to J3 for the second time in their history, for the 2025 season after a defeat by Roasso Kumamoto 2–3 at home, which ended four years in second tier with five games remaining.