In effect. Yes
The announced their re-entry to the sport late on in 1996, aiming for a 1998 entry, but the main sponsor, Mastercard, said, enter next year or don't count on us.
They designed their car in basically a couple of months flat, resulting in a dog slow abomination (too much drag on the straights, no aerogrip in the corners.) A superb lesson in how NOT to do it, they contrasted well with Stewart that year.