The Swan Yamaha team is headed up by Team Principal Shaun Muir, who after retiring from professional racing, decided to turn his hand to team management. Muir began by running a team in the British Supersport Championship from 1999 to 2001 but then joined forces with Colin Appleyard Racing to run a team in the British Superbike Championship in 2005.

The team recruited Yamaha R6 Cup rider Kieran Clarke for their championship debut and with the backing of Hydrex they finished the season in 18th place. The Shaun Muir Racing (SMR) team returned the following season with Kieran Clarke and he was later joined by Steve Plater after he was left without a ride mid-season. Plater was able to give the team a 13th place in the overall standings and their first podium finish at Brands Hatch, whilst Clarke rounded out the season in 18th place.

In 2006 the SMR team secured Glen Richards as their number one rider and he was joined by Gary Mason. The team were on a high following Plater's podium at the end of the previous season, but neither Richards or Mason could follow up the podium result although Mason came close at Donington Park with a fourth place. Richards' best result came with a fifth place at Brands Hatch and he ended the season in 10th, with Mason 17th in the final standings.

In 2007 the squad returned with the Hydrex backing and Karl Harris joined after a stint with HM Plant Honda.  'Bomber' put the team back on the podium after finishing second at Oulton Park and was regularly finishing in the top ten, securing eleventh overall.

In 2008 James Ellison returned to BSB after a stint in AMA with the team and immediately was scoring top ten finishes and he finished on the podium at both Oulton Park rounds and also the penultimate race at Brands Hatch. Ellison was one of the most consistent riders of the year, only failing to finish three races, once at Silverstone and the two races he sat out of at Cadwell Park following a training injury. Guy Martin was the second rider in the team but a difficult season saw him finishing 18th overall whilst also competing at the major road race events onboard the Hydrex Bike Animal Honda.

In 2009 Harris made a return to the team and started the season determined to pick up where Ellison left off, but 'Bomber' failed to live up to expectation and despite a promising start to the season with his best BSB result of two second places at Oulton Park his results trailed off and he was regularly finishing outside of the top six. Muir made the tough decision to sensationally drop Harris after Cadwell Park with three rounds remaining.

Tommy Hill was drafted in following his impressive finishes deputising for Sylvain Guintoli on the Worx Crescent Suzuki at the Mallory Park and Brands Hatch rounds. Hill took two top seven finishes on his debut with the team at Croft which he followed up with two fifths at Silverstone. Hill and the team ended the season a high, twice finishing on the podium.

Former British Supersport champion Stuart Easton, who took the team to a win at the Macau GP at the end of 2008, had a consistently strong season in his first year with the Muir's squad which saw him finish the year as the top Honda rider and third in the overall standings. He secured both his and the team's maiden BSB race win at the squad's home round of Croft which he followed up with a sensational victory at the Oulton Park final round.

In 2010 Muir re-signed Easton for a second consecutive season following another victory at the Macau GP at the end of 2009. Easton was joined by James Ellison who returned to the team in 2010 with the newly-liveried Swan Honda. It was a challenging season for Muir's team; Ellison's title hopes were dashed after he sustained a broken femur in practice at Thruxton and he was only able to return for the final rounds. He was still able to lift the Riders Cup, whilst Easton finished a further two places back in ninth overall.

The team have made the switch from Honda to Yamaha machinery for 2011 as they bid for a maiden BSB title with a two-strong rider line up with Swan remaining as title sponsor for a second season. The team have signed Tommy Hill and Michael Laverty for 2011 after finalising a deal that will see the team receive manufacturer support.