Under the guidance of Dale Liston, director of athletics and head football coach at Thiel from 1988-1990, and in cooperation with Thiel College presidents Louis Almen and Dr. Carlyle Haaland, the Tomcat Advisory Committee held its first meeting in May of 1990 at the Duquesne Club in downtown Pittsburgh. The Tomcat Advisory Committee was later re-named the Blue-Gold Club in November of 1990.

The Blue-Gold Club was initially run via committee format led by budget committee chairman Richard Koehler, Jr. '65 until elections were first held in October of 1991.

Jerry Zaleski '57 was officially announced as the first president and held the position until 1994. Paul Saternow '71 served as president from 1994-2000, and was followed by Mark Batt '87, who served as president for one year.

The Blue-Gold Club is currently under the direction of assistant athletic director Jack Leipheimer '74.