The privateer squad, which runs in the second and third tier Super2 and Super3 series, was set to field a Dick Johnson Racing-built Mustang in the Great Race this year.
The ambitious programme was launched earlier this year, with team owner and local Bathurst builder Michael Anderson announced as a driver.
He was expected to be joined by a high-profile co-driver, however momentum on that front slowed dramatically following the initial announcement.
It had previously been announced that both the entry and the superlicence exemption had been provisionally approved.
Since then it has been widely expected the wildcard wouldn't happen, however Anderson has continued to lobby to get it off the ground.
As of today, however, it's clear that won't be happening, Supercars confirming that the Bathurst 1000 grid will feature 28 cars – the 25 regulars plus the wildcards from Triple Eight, Erebus Motorsport and Matt Chahda Motorsport.
"Supercars can confirm that this year’s Repco Bathurst 1000 official entry list will contain 28 Supercars," said a Supercars spokesperson.
"Twenty five of which will be championship entries and three approved wildcards; Matt Chahda Motorsport, Triple Eight Race Engineering and Erebus Motorsport."
While the Bathurst entry may not be going ahead, Anderson is still well-placed for Super2 next season thanks to purchasing the DJR Mustang.
With eligibility for the second-tier limited to Gen2 hardware for next season, and collectors snapping up the outgoing cars, the market for Mustangs, ZBs and any control chassis that can be converted to Gen2 spec is currently booming.
Tickford Racing recently bought an ex-Garry Rogers Motorsport chassis, initially used as a Holden, to be converted to a Mustang for Super2 next season.
