Rodin Cars has revealed it has seen its F1 entry bid rejected by the FIA and believes Andretti will be the only successful applicant.
F1's governing body opened up a process for interested parties to lodge applications to join the grid in January, with a number of responses being received.
These included what is now known as Andretti Cadillac Racing, Hitech Grand Prix, Rodin Carlin, Asian start-up LKY SUNZ and the Craig Pollock-backed Formula Equal.
The FIA has been studying the applications and their viability to be granted acceptance, although no formal decisions have been communicated.
Any team that is accepted by the FIA is not guaranteed a slot on the grid, as commercial and financial terms would still need to be agreed with the Commercial Rights Holder (CRH) - which is F1 itself [Liberty Media].
In a statement confirming the team's rejection, Rodin founder David Dicker said: "We wish to emphasise that our objective here is not to criticise the FIA or seek a reconsideration of its decision," said a statement.
"We fully respect and accept the outcome. Our sole purpose is to release information we consider in the public interest to inform the Formula 1 community."
Rodin also highlighted the fact that through the partnership with Carlin, a pathway from the junior formulas right up to F1 was possible, but the FIA has seemingly decided that the project did not meet the strict criteria placed on the entry process.
But hinting at a pass for Andretti, the statement continued: "We appreciate the opportunity to have participated in the FIA process and extend our best wishes to Andretti for their successful bid.
"Rodin Cars remains committed to pushing the boundaries of motorsport and will continue to pursue excellence in the world of racing."
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The team, which had planned to build and construct its cars in New Zealand - an outlier with the current 10 teams who all have bases in Europe - suggested that talks with Ferrari had been held about a potential power unit package, although its unclear how far negotiations were advanced.
Rodin also announced that it was committed to reserving one seat for a female driver - and directly name-checked Jamie Chadwick.
The three-time W Series champion and current Indy NXT driver was a prime candidate for a seat the team said, and that "if she was available, we would have had no hesitation in putting her in a seat".