The Varsity Club formed in World Championship Wrestling by Kevin Sullivan after he recruited Rick Steiner and Mike Rotunda in early 1988. The group would wear the letterman jackets of their respective alma maters and brag about their superiority to other wrestlers on the roster because of their amateur wrestling background. The team seemed cohesive initially under Sullivan's leadership, but began to experience dissension as Rotunda and Steiner bickered over who was the “captain” of the team. In February 1988, the Club started a feud with Jimmy Garvin because Sullivan wanted Garvin's valet Precious. Sullivan would stalk Precious and taunt her with papers in his robe, but it was never revealed why he was stalking her or what the papers were about. Garvin got help from his "brother" ”Rugged” Ron Garvin and "Dr. Death" Steve Williams in his fight with the Club. At Clash of the Champions I, Rotunda defeated Jimmy Garvin in a “College Rules” match. Three months later, Garvin got revenge as he and Ron defeated Rotunda and Steiner at Clash of the Champions II. The fact that it was Steiner who lost the match was further cause for friction in the club. Sullivan and Rotunda started to punish the “slow witted” Steiner and taunted him mercilessly. At The Great American Bash 1988, the Garvins/Varsity Club feud came to a violent clash as the Garvins teamed with the Road Warriors and Steve Williams to beat Sullivan, Rotunda, Al Perez, The Russian Assassin and Ivan Koloff in a Tower of Doom match. In September 1988, the Club attacked Jimmy Garvin; Sullivan used a cinder block to “break” Garvin's leg, effectively ending the feud. Steiner began a slow face turn when he tried to save Sting from a beatdown by The Road Warriors, who turned on him after a match against the Club.
Steiner finally reached his breaking point near the end of 1988, when he attacked Rotunda, turning face as a sympathetic underdog. At Starrcade 1988, he received a match with Rotunda for the WCW Television Title. Despite being locked in a cage at ringside, Sullivan had an ace up his sleeve. The ace was former opponent Steve Williams, who had just joined the Varsity Club. Though Williams was unable to prevent Steiner from winning the TV title, his arrival signified a major recruiting coup for Sullivan. Earlier in the night, Sullivan and Williams brought gold back to the stable when they defeated the Fantastics for the United States Tag Team Championships. Steiner's run with the TV title ended a few months later as Rotunda regained the belt at the Chi-Town Rumble on February 20, 1989. He did get impressive backup from his brother Scott, a recent arrival who was eager to help. The Steiners celebrated when Rick and "Hot Stuff" Eddie Gilbert won the US Tag Team titles from Williams and Sullivan on February 28.
In early 1989, the group added Dan Spivey to their ranks in an effort to dominate the promotion. This was an attempt to fill a power vacuum created by the disbanding of The Four Horsemen. The effort got off to a rocky start when Rotunda lost the TV Title to Sting on March 31, 1989.
Throughout the spring of 1989, the club made several attempts to dethrone reigning WCW World Tag Team Champions the Road Warriors, including Sullivan and Williams' match with them at the Chi-Town Rumble. On April 2, 1989 at Clash of the Champions VI, the combination of Williams and Rotunda were able to defeat the Warriors, thanks to a fast count by referee Teddy Long, who had been bribed by Sullivan. The duo managed to keep the titles through Sullivan's outside interference and frequent disqualifications, including at their title defense at WrestleWar 1989. However, due to the controversial way the Club won and defended the titles, they were stripped of the gold that night.
The club was unable to regain the US Tag Titles from Rick Steiner and Eddie Gilbert, although they did force Gilbert to leave the promotion for a short time. Gilbert's departure provided the impetus for Rick to team with his brother Scott. Shortly after WrestleWar 1989, the club began to disintegrate with the departures of Williams and later Spivey, who started to work with Sid Vicious as one of The Skyscrapers. This left Sullivan and Rotunda as the sole Varsity Club members, meaning the stable was effectively finished. The Steiner Brothers made their team debut at the Great American Bash 1989, beating Sullivan and Rotunda in a Texas Tornado match. The last official appearance of the Club occurred when former member Williams defeated Rotunda at Clash of the Champions VIII.
The Varsity Club had a brief reformation in WCW in 1999 when Sullivan, Rotunda and Steiner teamed together at Starrcade on December 19, 1999. The three men were ”Hacksaw” Jim Duggan’s surprise partners, showing up in their old letterman jackets and accompanied by a cheerleader, Leia Meow; they made her do pushups and bounce on a trampoline at ringside. The Club turned on Duggan at the end of the match, leaving him easy prey for The Revolution. The Club disbanded in late January 2000 after a brief feud with Don and Ron Harris.