After abandoning the World Touring Car Championship during the 1987 season, Giuseppe Lucchini set his sights on entering the Formula One World Championship in the coming year. Unable to construct their own car, Lucchini brokered a deal with Dallara owner Gian Paolo Dallara to construct a new car based on their experience as a Formula 3000 entry. Lucchini renamed his team BMS Scuderia Italia (with Dallara being the listed constructor for the purposes of the World Constructors' Championship standings) and placed Vittorio Palazzani in charge of the new entry. Sergio Rinland designed the new Dallara 188 and also served as the team's chief engineer. Cosworth provided their Ford DFZ V8 and Italian Alex Caffi was signed to drive the team's sole entry. The car was late being completed, forcing the team to bring a Dallara Formula 3000 car to the first meeting in Brazil. The team was unable to score any points, but qualified for fourteen of sixteen races during the year. Caffi earned a best finish of seventh at the Portuguese Grand Prix, one position outside of the points.