The Cobras were officially announced as members of the
National Arena League (NAL) on December 4, 2017. The Cobras inaugural season finished with a regular season record of 10–5, taking second place in the league. The Cobras then defeated the
Jacksonville Sharks in the playoff semifinal and earned the right to host the 2018 NAL Championship game at home after the first place
Massachusetts Pirates lost their semifinal to the
Columbus Lions. With the Lions missing several starting players including their quarterback
Mason Espinosa and all running backs, the Cobras dominated Columbus in the championship game 66–8. In their second season, the Cobras again made it to the championship game, where they lost to the Sharks 52–48. Following the season, head coach Billy Back and most of his staff left the team to coach the relaunched
Spokane Shock in the
Indoor Football League when the NAL was announced to merge with
Champions Indoor Football for the 2020 season. The Cobras initially hired Massachusetts Pirates' head coach Anthony Payton after the Pirates withdrew from the league due to the merger. However, the merger fell apart and the team then hired former defensive coordinator Josh Resignalo as head coach in December 2019. On September 22, 2022, head coach and general manager Josh Resignalo stepped down to "explore other opportunities". The next day, on September 13, the Cobras announced that their offensive coordinator and arena football veteran James Fuller would be tapped as only the team's third head coach in franchise history. On September 5, 2023 a decision to not retain Coach Fuller was made. He proceeded to take a position with the San Antonio Gunslingers of the IFL. The Cobras moved forward with hiring long time assistant and 2023 National Arena League Assistant Coach of the Year, Brandon Negron. In his first season, Negron led the Cobras to a 6-4 record (5-1 at home) but the team failed to make the playoffs losing two straight to close out the 2024 season. A decision to retain Negron was made for the upcoming season amidst ownership changes, league expansion and commitment by the team to remain in Greensboro for another season. The
Omaha Beef poached Negron from the Cobras one month into the 2025 season. On April 24, 2025, the Cobras announced that head coach Mike Bonner resigned effective immediately. The next day, the Cobras announced the cancellation of the remainder of their season, citing "unforeseen circumstances." On May 21, 2025, the team ownership announced that they had begun discussions with a private equity firm. ==Season-by-season results==