The centrist political group No Labels voted Friday to move forward with plans to put up a "unity ticket" for the 2024 election, following months of speculation about its future.

Why it matters: The group is still undecided on the key question of who will appear on its ticket, but the movement has already sparked scrutiny from Democrats who say the third-party bid could hurt President Biden in November.

Driving the news: Approximately 800 delegates met Friday to vote on whether to proceed with a presidential ticket to take on Biden and former President Trump, the presumptive nominees.

• "[The delegates] voted near unanimously to continue our 2024 project and to move immediately to identify candidates to serve on the Unity presidential ticket," No Labels National Convention Chair Mike Rawlings said in a statement.
• The group, founded by Nancy Jacobson in 2010, has argued that voters seek an alternative to Biden and Trump.

The big picture: The group at the Friday meeting was not expected to name its candidates for president and vice president, but that remains a key question as several high-profile, moderate lawmakers have now ruled out running with No Labels.

• Sen. Kyrsten Sinema (I-Ariz.) and former UN Ambassador Nikki Haley this week both ruled out third-party presidential bids.

What's next: The group plans to accelerate their candidate outreach and announce how they will select candidates for their ticket on March 14, according to Rawlings.

Go deeper: Exclusive: No Labels super PAC is dialing for dollars

Editor's note: This story has been updated with a statement from No Labels.