After a first season record of 7-9, the Richmond Speed made quite a turnaround in 2001. They finished the regular season at 13-3, their losses coming by an average of 23 points. In the playoffs, the Speed avenged a 56-14 loss to the Tennessee Valley Vipers and beat them 51-50 for the right to play Quad City in the Championship game. The Speed would come up on the short end of a 55-51 score against the Steamwheelers. Success continued for the Speed in the 2002 season, as they started 7-0. However, after finishing 12-4, the Speed would lose in the first round of the playoffs to a Cape Fear Wildcats team that they had beaten twice in the regular season. The 2003 season would not be so kind, as the Speed finished 6-10 and the fans proved they were not happy. Attendance at their next-to-last home game against the Mohegan Wolves was a mere 1,636. The team would fold after the 2003 season.