Trackhouse Racing has taken over the Aprilia satellite team after Razlan Razali's RNF Racing discontinued.
Trackhouse began their journey in motorsport three years ago when they joined the NASCAR series.
Despite the significant changes at the top, the rider line-up of Raul Fernandez and Miguel Oliveira will remain the same.
Trackhouse Racing showcased their bike presentation with an all-American look as the RS-GP bike was covered with the red, white and blue, including stars on the front fairing.
Justin Marks is the owner of Trackhouse.
"I'm a student of the game, I love all forms of motorsports," Marks said at his new team's launch.
"I love experiencing all the different types of motorsport events."
The rift between the RNF Racing team and Dorna has also come to a solution.
Dorna had voided its contract with RNF due to ‘repeated infractions and breaches of the Participation Agreement affecting the public image of MotoGP'.
An amicable agreement will prevent legal action, it was confirmed moments before Trackhouse's launch.
Dorna confirmed: “Dorna, IRTA [International Race Team Association] and RNF have been able to amicably solve their differences that arose in the last part of the 2023 season.
“Although the RNF Team will not participate in the 2024 season of MotoGP, Dorna and IRTA wish the best of success to RNF and CryptoDATA in their commercial ventures.”