However, in a statement on the matter, FOM did suggest that a new entry for 2028 may be thought upon differently, when Cadillac would enter the sport alongside Andretti.
"Our assessment process has established that the presence of an 11th team would not, on its own, provide value to the championship," they said.
"The most significant way in which a new entrant would bring value is by being competitive. We do not believe that the applicant would be a competitive participant.
"The addition of an 11th team would place an operational burden on race promoters, would subject some of them to significant costs, and would reduce the technical, operational and commercial spaces of the other competitors.
"We would look differently on an application for the entry of a team into the 2028 championship with a GM power unit, either as a GM works team or as a GM customer team designing all allowable components in-house," FOM added.
"In this case there would be additional factors to consider in respect of the value that the Applicant would bring to the Championship, in particular in respect of bringing a prestigious new OEM to the sport as a PU supplier."
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