The game will be created by veterans from Criterion and Bizarre Creations
Rumors suggest that developer Lucid Games, made up of former staff from Criterion and Bizarre Creations, and publisher Microsoft are working on Project Gotham Racing 5, a new racing title that will be launched on the upcoming next-generation console from Microsoft.The information comes from a NeoGAF thread and Microsoft has not offered a confirmation or a denial of the rumor.
The third game in the Project Gotham Racing series was a launch title for the Xbox 360.
Project Gotham Racing 5 would presumably keep the core mechanics of the series while increasing the number of vehicles a player can use and taking advantage of all the new features of the Microsoft next-gen console.
The most recent title in the series was launched during 2007 and there were rumors that Turn 10 was handling a reboot of the series.