Gallery: The best of 23Red Racing

Following 23Red Racing's announcement that it will exit the sport effective immediately, Supercars.com has taken the opportunity to collate a quick history of the team in photos.

WATCH: FLASHBACK TO DAVISON'S STARRING ROLE IN 23RED LIVERY LAUNCH

Owned by Phil Munday, 23Red Racing was announced to take over from Lucas Dumbrell Motorsport for the 2018 championship, competing as a one-car Ford team.

First came the car reveal, complete with Milwaukee backing. The Falcon was originally numbered #023 given #23 was being used by Michael Caruso at Kelly Racing.

The question mark of whose name would feature on the door was answered: two-time Bathurst 1000 winner Will Davison, who was coming off a two-year stint at Tekno Autosports.

• Opinion: Parallels between Davison and Alonso

Now numbered #230, Davison gave the team a top 10 finish in their very first race, placing eighth in the opening heat of the 2018 Superloop Adelaide 500.

23Red were always willing to get in the spirit for retro round, right from their first visit to Sandown in 2018 as Davison was joined by older brother Alex for the enduros.

For year two, Davison again started strongly as Supercars welcomed the Mustang in 2019. By Ipswich in July, he was competing at the very front... and now with the #23!

He would go on to deliver the team's maiden podium in that race, finishing second behind Jamie Whincup, and ending a 1021-day silverware drought of his own.

Munday wasn't in attendance, tuning in remotely with delight.

Davison looked set to go one better at the next stop on the calendar, comfortably leading the early stages in the Sunday race at The Bend...

But an airbox fire delayed Davison in pitlane, meaning he had to settle for second behind runaway points leader Scott McLaughlin.

The second edition of 23Red's retro livery was a beauty.

There was plenty of excitement for Davison and 23Red after a promising 2020 pre-season test at The Bend.

Davison qualified on the second-row for both Adelaide races, converting that into two top five finishes. Included in that was a tussle for the ages with Chaz Mostert, Davison getting his elbows out to hold off his former teammate.

Davison was on the pace again a few weeks later at Albert Park, in what would ultimately be the last day on track for the Milwaukee Mustang.