On April 15, 2009, the Central Hockey League announced an expansion team for Allen, to begin play in the 2009–10 season. The new team was owned by EXCO Resources chairman Douglas H. Miller and former NHL defenseman Steve Duchesne. That same day, the team announced an affiliation with the NHL Dallas Stars. Through this affiliation, they will also affiliate with the Austin based AHL Texas Stars.
On April 27, 2009, the ownership group unveiled the team's name, logo, and colors.Prior to the Americans third season, on September 1, 2011, it was announced that the Americans signed a one-year affiliation deal with the Colorado Avalanche of the NHL and by extension the Lake Erie Monsters of the AHL. This agreement officially made the Americans affiliates of the Avalanche after having a working relationship with the Monsters over the previous two years. This affiliation is no longer in place as Colorado and Lake Erie are now affiliated with the Denver organization.
On May 4, 2012, the Allen Americans announced that former Dallas Stars Mike Modano, Craig Ludwig, and Ed Belfour partnered up to become minority owners. Shortly after the Allen Americans announced that they would not retain GM and Head Coach Dwight Mullins, along with Associate Coach Bill McDonald. Richard Matvichuk was announced as the Assistant General Manager and Defensive Coach.
On May 11, 2013 the Allen Americans won the Ray Miron Presidents' Cup for the first time in front of a sold out crowd. It was a game 7 overtime win.