FC Midtjylland, formed on 1 February 1999 through a merger of Ikast FS and Herning Fremad, became known across European football as a "Moneyball" club, built on an approach favouring xG statistics and data analytics over traditional scouting. That philosophy was introduced by British businessman Matthew Benham, who became the club's majority shareholder in 2014 and remained so until 2023, when he sold his stake to the Danish Bestseller group, owned by billionaire Anders Holch Povlsen; Benham continues to own England's Brentford, where he applies similar methods.
Just a year after Benham's takeover, in the 2014–15 season, the data-driven philosophy delivered the club's first-ever Danish championship. Since then, the Wolves (Ulvene) have won a total of four league titles, in the 2014-15, 2017-18, 2019-20 and 2023-24 seasons, the last of these sealed on the final matchday of the campaign. The club also lifted its first-ever Danish Cup in 2019, beating Brøndby IF on penalties in the final, and added further cup trophies in 2022 and 2026 — the latter securing Midtjylland's place in the 2026-27 UEFA Europa League qualifying rounds.
The most memorable European night in the club's history came on 25 February 2016, when Midtjylland beat Manchester United 2–1 at home in Herning in the Europa League round of 32. Despite that historic win over an English giant, the club was eliminated after a crushing 1–5 defeat in the away leg at Old Trafford, losing 3–6 on aggregate. Despite that setback, the club has become a regular in European competition, including reaching the Champions League group stage in 2020-21 — the first Danish club in decades to qualify for the competition through the domestic league title.
The club plays its home matches at the MCH Arena in Herning, and the data-driven model it pioneered has become an approach widely imitated by clubs across Europe, turning a small club from a provincial Danish town into one of the continent's most recognisable examples of modern sporting management.