Thosnaigh scéal Gaelscoil Pheig Sayers i 1986 nuair a rinne grúpa tuismitheoirí áitiúla, le cabhair an Br. Jack Beausang, feachtas chun Gaelscoil nua áitiúil a bhunú. Nuair a dhiúltaigh an Roinn iad a aithint, thosnaigh siad bailiúcháin ó dhoras go doras agus bhunaigh siad Gaelscoil Pheig Sayers go mí-oifigiúil i seomra thuas staighre i CLG Na Piarsaigh, ag íoc an múinteoir iad féin leis an t-airgead a bhí bailithe. D’fhás na huimhreacha agus bhog siad go dtí an AG Mainistir Thuaidh ar feadh tréimhse. Ba i mí na Márta 1988 a fuair an scoil aitheantas oifigiúil ón Roinn agus a bunaíodh go hoifigiúil.  D’imigh siad go Páirc Gnó North Point ar feadh deich mbliana, áit mí-cuí ar fad le haghaidh bunscoil agus i mí Aibreán 2013 do bhog siad go dtí an foirgneamh stairiúil Fearann Phiarais ar Bhóthar Rí na hAoine sa Linn Dubh. Díreach gar le Fearann Phiarais a thógálfar an scoil nua.

The story of Gaelscoil Pheig Sayers began in 1986 when a group of local parents with the help of Br Jack Beausang campaigned for a new Gaelscoil to be set up locally. When the Department wouldn’t sanction it, they began door to door collections and unofficially set up Gaelscoil Pheig Sayers in a room upstairs in Na Piarsaigh GAA Club, paying the teacher themselves with money collected. Numbers grew and they then moved to a part of the North Mon AG for a period. It was in March 1988 that the school got Department recognition and was officially founded. They relocated to North Point Business Park for ten years, a wholly unsuitable site for a school and in April 2013 they moved to the historical Farranferris building on Redemption Rd in Blackpool. It is directly adjacent to Farranferris that the new school will be built.