Rather than retain Magnussen for a fourth consecutive season, Haas have opted for a completely fresh lineup in 2025.
Young British star and Ferrari junior Ollie Bearman has been confirmed as one of the team's drivers for next year, whilst Frenchman Esteban Ocon will drive alongside him.
This means that both of Haas' current drivers will depart at the end of 2024. Nico Hulkenberg is set to join Sauber, but Magnussen's future remains unclear.
Earlier this year, the Dane suggested that he was open to the likes of IndyCar, and of course, he has previously driven in the series.
Magnussen made a one-off appearance for Arrow McLaren in the 2021 season at the Grand Prix of Road America in Wisconsin.
Now, speaking out after a recent one-race suspension following racking up two many penalty points, Magnussen has revealed his admiration for the IndyCar series.
“I've raced in IndyCar,” Magnussen explained to the media ahead of the Singapore GP.
“I've watched the races on television, and I think they have it [right] going over there.
“They have fantastic racing. The drivers are respectful to each other. They're left with that responsibility in their hands, and I think that works."
Magnussen added that racing must be hard-fought and that cars go out on track knowing full well damage can occur.
“It has to be tough and these cars are put on track with the knowledge that they might get damaged," the Dane added.
“And, if they do, then the driver that damages his car, he gets penalized naturally. And I think the only thing that is different in Formula 1 to IndyCar are the tracks.
“The tracks are not great for racing. With all this track-limit stuff, I got all my penalty points pretty much for track limits at the end of the day.
“I think that's kind of stupid to be a few centimeters out of a wide line and end up with a race ban because of that. It's not the sport I love.”