The publication of a 25-car entry list confirmed that neither Robert Shwartzman nor Callum Ilott will compete.

Neither driver took part in pre-season testing at Sebring at Phoenix and did not attend the pre-season content day either.

The team has not commented publicly on its absence from St Petersburg, though Ilott has made a series of vague and at times humorous posts to social media.

“Exciting news,” Ilott wrote.

“I’m going to St Pete. I’m a rental car driver.”

There is speculation that the team could return in some capacity later this year.

Piers Phillips, the CEO of the IndyCar division of Prema Racing, is reportedly interested in buying the assets.

Phillips told Indianapolis outlet Indy Star earlier this month that the team is “planning a delayed start” to the IndyCar season.

In the build-up to the St Petersburg weekend, IndyCar CEO Doug Boles said dialogue remained ongoing between category officials and Phillips.

“We’ve obviously stayed in touch with Piers and the team as they’ve been working through what Prema could look like in 2026,” Boles told Racer in early February.

“I think, honestly, it just depends on what Prema looks like; we would definitely give them consideration, depending on their commitment to continue to run the rest of the season, depending on what point they’re on the grid.

“There’s value you give them for the investment that they made last year.”

It’s been an almighty fall from grace for the team that took pole position for the Indianapolis 500 in its debut season thanks to Shwartzman’s heroic efforts.

Prema’s entry to IndyCar was a curious one given it is not a chartered entry, meaning the team is not eligible for leaders circle prize money.

The leaders circle program guarantees a $1 million USD ($1.4 million AUD) payout per car.

The IndyCar Series opener at St Petersburg takes place on February 28-March 2 (AEDT). Monday’s race gets underway at 4am with live and exclusive coverage on Stan Sport.