Team Love's first release was Tilly and the Wall's Wild Like Children on June 22, 2004. In 2006, Team Love released Jenny Lewis' solo debut with The Watson Twins and later the Tilly and the Wall follow-up Bottom of the Barrels. The year before, it put out records by David Dondero and Craig Wedren as well as the Bright Eyes live album Motion Sickness (though the band's studio albums are still released through the Saddle Creek imprint). Team Love reissued Park Ave.'s When Jamie Went to London... We Broke Up in late 2005. The album was produced on Urinine Records in 1999, but in 2005 Urinine closed, making the album out of print.
The label was founded in part due to Oberst's frustration at not being able to sign and showcase talent quick enough through the record label his own Bright Eyes albums are released with, Saddle Creek Records. Saddle Creek was a label his brother helped co-found but was operated and managed by various individuals. Still, Team Love has ties to Saddle Creek with a distribution deal in place.
Also notably, Krenkel was a former A&R representative for 8 years with major labels like EMI and Sony Publishing before leaving for Team Love. He was responsible for signing singer/songwriter Jesse Harris to Sony ATV Music Publishing, who was the main songwriter for Norah Jones' debut album Come Away With Me, winning a Grammy for Song Of The Year for her first hit Don't Know Why.