AJ Foyt Racing has finalized its IndyCar lineup for 2024 with a decision that appears to have led to another contracted driver losing a ride.

The team confirmed Santino Ferrucci's return to Foyt's famed No. 14 Chevrolet on Tuesday afternoon four months into an offseason that began with both sides hopeful, but by no means certain, a reunion could be achieved. The news gives the 25-year-old some much-needed stability in this latest chapter of an IndyCar career that will have spanned seven seasons by this year's St. Pete debut.

Absent from the team's release was any concrete information as to Ferrucci's program in the No. 14 this year. When IndyStar asked how many races Ferrucci would handle, a team official said, "We are intending that he be in the car the full season."

It marks Ferrucci's second opportunity to string two full-season campaigns together with the same team, one year after he finished 19th in the drivers' championship and his No. 14 took 20th in entrant points, helping to secure a much-needed payday of roughly $1 million for Foyt in the Leaders Circle program for 2024.

"I'm super stoked to be back with the team," Ferrucci said in a team release. "It's really good to start building some continuity with everybody, and I think it's going to improve our results. My expectations for the year are to come out of the gate a lot more prepared than we were last year.

"Working with Penske (through the sides' technical alliance that begins this year), things are hopefully going to be a lot smoother, and I'm looking forward to being back at the Indy 500 again."

Last May, Ferrucci improved upon his stellar resume at the Greatest Spectacle in Racing, logging a 3rd-place finish as his fifth top-10 finish in as many 500 starts in his career. Along the way, he led 10 laps in the final quarter of the race -- 11 overall -- and his podium finish, after qualifying 4th, marked the Foyt team's best result in the 500 since Eliseo Salazar started and finished 3rd in 2000.

That finish, however, was the entire two-car team's only top-10 on the year. He'll aim to improve those results with new teammate, second-year Sting Ray Robb, who was confirmed for a full-season campaign last month in the team's No. 41 Chevy. In Tuesday's release, the team noted they do not plan to field a third car at all in 2024.

"I'm very happy to have Santino back," team president Larry Foyt said in a team release. "We worked well together last year, and he brings a good energy to the team. Obviously, we have our eyes set on the Indy 500, but we also had some good pace in other races but didn't get the results.

"Together, we are focused on moving up in the championship standings, and I believe we can achieve that."

What about Benjamin Pedersen?

Just 15 months ago, Foyt announced a multi-year deal with then-incoming IndyCar rookie Benjamin Pedersen, pairing him alongside Ferrucci for the 2023 season in hopes that the influx of the former's funding and the latter's experience could combine for the makings of a resurgence AJ Foyt Racing has long been chasing.

Through a string of six DNFs and just two finishes better than 20th, Pedersen no doubt struggled in his rookie campaign, finishing last in points among full-season drivers while his No. 55 Chevy finished last among the full-season entrants as well.

Rumors began swirling near the end of the 2023 season that the 24-year-old's future with the team wasn't as rock-solid as the press release announcing his signing suggested. The team's president told IndyStar a day before the season-finale that he didn't expect any changes to Pedersen's status for 2024 and noted Foyt was aiming to finalize Ferrucci's return as well.

Whether it was Robb's rumored high-seven-figure sponsorship package, or some other falling out with Pedersen, AJ Foyt Racing has made it clear with Tuesday's news that they do not intend to run the driver, who finished 5th in the 2022 Indy Lights series, in 2024.

Though he's yet to post a response to Tuesday's news, Pedersen attempted to make clear his claim to a ride within the Foyt stable for next season within hours of Robb's confirmation last month. That afternoon, Pedersen posted this statement to his social media platforms:

"It's awesome to see that Sting Ray is joining us here at AJ Foyt Racing, and I'd like to send a very big welcome. He will be a great addition to our team. Looking forward to on track testing soon! -BP"

Notably, Robb's No. 41 entry will be run out of Foyt's Speedway shop, which hosted Pedersen's No. 55 a year ago -- near where both drivers currently reside in central Indiana -- leading to the initial speculation that the latter was on the outs with Foyt in regards to a seat in 2024.

When asked by IndyStar last month on an IndyCar teleconference if Robb's signing should signal an end to Pedersen's tenure with the team, Larry Foyt said the team was "sorting all that out."

"I can't really speak to that yet," he continued.

When reached for comment Tuesday regarding Pedersen's future with the team, Larry Foyt said in a statement provided to IndyStar: "My agreement with Mr. Pedersen lapsed by its own terms. I wish him well in his future endeavors."

This article originally appeared on Indianapolis Star: IndyCar: AJ Foyt Racing confirms return of Santino Ferrucci for 2024 season