AJ Foyt Racing will represent the third different team Malukas has driven for after stints at Dale Coyne Racing and Meyer Shank Racing.
After two seasons at Dale Coyne Racing Malukas was signed to race with McLaren this year.
However, that never came to fruition after he broke his wrist in a mountain biking accident.
Malukas returned to the series halfway through this year with Meyer Shank Racing after it deposed Tom Blomqvist for his lacklustre results.
Now Malukas is set for a career reset in 2025.
“For me, the 2024 season was very chaotic and did not go to plan, so I am looking forward to a new beginning. I am mostly looking forward to being a part of such a special team,” he said.
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“The recent alliance with Team Penske this season has clearly been beneficial, and I want to be sure that we build the right environment, not just for myself, but for the mechanics, engineers and everyone else who makes this all possible.
“In the few years I have been in IndyCar, I have found that a strong team dynamic is crucial for success. As long as we focus on building good chemistry, I am confident that the results will follow.”
AJ Foyt Racing’s current roster includes Santino Ferrucci and Sting Ray Robb.
It’s not clear yet whether Malukas will race the #14 or #41 entry.
Ferrucci is 10th in the standings with five races remaining while Robb is 21st.
“The team has performed very well this season and I can’t wait to get to work with them and immerse myself in that environment,” said Malukas.
“The history and success of both AJ Foyt Racing and A.J. Foyt himself were key factors in my decision to join the team.
“Everyone knows that A.J. is a legend and he was someone whose name I always heard growing up.
“To have the opportunity to work alongside him and drive for his team is very special.
“I am starting a new chapter in my IndyCar career, and I am eager to achieve strong results with AJ Foyt Racing.”
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