The team will have a new rider line-up for next year's BSB championship, after parting ways with Luke Mossey and Hector Barbera.
After extensive conversations, both riders’ contracts, which expired following the final round of the 2020 season, will not be renewed.
The team will continue with the same team structure in 2021, with two new riders joining the team to pilot the new BMW M1000RR.
The first of these riders will be announced in the upcoming weeks, whilst talks are ongoing with a number of riders for the second.
A team spokesman said: "Luke and Hector will always remain part of the #OMGFamily, and everyone at OMG Racing wishes them all the best for their future racing endeavours."
During their maiden season on an S1000RR superbike, a strong set of results at the final round secured BMW bragging rights for OMG Racing, who outperformed the factory team.
Mossey matched his best result of the season during the final round at Brands Hatch last weekend, Barbera added to his 2020 points tally and McConnell produced a determined ride in the final superstock 1000 race, but ultimately missed out on third place championship.
Mossey, after qualifying fifth, finished 11th, sixth and 12th, to secure 11th in the championship.
Barbera struggled after qualifying 16th, to claim a 16th and 15th, sandwiched between a DNF, to end the campaign 17th in the standings.
Australian Billy McConnell, who competed in the National Superstock 1000 series for the OMG Racing this year, was looking to break the championship top three at Brands.
But despite qualifying fastest for the only superstock 1000 race of the weekend, he finished fifth, which left him fourth over all in the standings.
Team Principal Paul Curran said: “It was a decent weekend to cap off our 2020 season, the team have really pushed this season and to beat the factory team was our goal from day one so it’s nice to make that a reality.
"Luke obviously matched his best result from earlier in the season, Hector's pace was improving every session and Billy grabbed a pole and nearly P3 in the championship, so all in all I think we have to take those positives from a challenging season.
"Work has already begun on the 2021 set-up and we made a couple of big breakthroughs this weekend, with a year of data behind us now we can start off next season on the front foot.
"Thanks to everyone involved this season, especially team owner Alan Gardner, who’s continued to support the team during what’s been a challenging season with all the uncertainty around. See you in 2021."
Michael Rutter marked the end of an emotionally-charged BSB campaign by paying the perfect tribute to his late father.
Rutter, from Brierley Hill, had been plagued with bad luck in 2020 after seeing his star Bathams Racing rider, Richard Cooper, badly break his leg after one round.
After drafting in Dan Linfoot, his BMWs experienced a series of problems, meaning he decided not to take part in any racing himself until the final round.
But all that drama was put to one side at Brands Hatch as Rutter, who is also team manager for the Black Country-based team, turned out in stunning leathers and livery, to pay tribute to his father, Tony, who passed away earlier this year.
The 48-year-old even managed to qualify 12th and nick a point in the final superstock 1000 race of the year, while Linfoot stormed to a second-place finish, just 0.044-seconds off victory.
Rutter had swapped the usual black, gold and red of Bathams Racing for the iconic red and blue of Tony's Ducati, on which he achieved much of his success.
Rutter said: “Wow! What a weekend. We really needed that breakthrough for ourselves, our sponsors and of course the fans.
"It was great to be able to do the tribute to my dad. He passed away during the lockdown, so I wasn't able to do anything for him at the time.”
Storm Stacey, 17, from Eccleshall, continued is superbly-consistent debut BSB campaign with 18th, 16th and 17th-placed finishes.
After claiming an incredible four points throughout the year, it left him 22nd over all in the standings.
Brownhills-based Astro JJR riders Damon Rees and Shane Richardson, both from New Zealand, and Caolan Irwin, also wrapped up their respective campaigns at Brands.
Rees sat out the final round but still ended his debut campaign a very impressive eighth over all in the superstock 1000 standings, while Richardson rounded off his year with a solid 11th, which left him 16th in the standings.
Irwin ended an even more impressive season with two podiums – a third and a second – to finish National Superstock 600 series in fourth place.
Hednesford's Kurt Wigley continued his strong end of the season with a 10th and 11th, which left left him 10th in the British Supersport standings.
Teenager Josh Hiatt, from Heath Hayes, finally returned to action following an injury lay off to claim a 19th and 18th-placed finish in the British Talent Cup race, to end the campaign 26th over all.
Stourbridge sidecar racer Martin Kirk wrapped up his British Sidecar season with DNF and a 12th, which left him 11th in the championship standings.