Nov 2, 2010 20:51 GMT  ·  By

Microsoft's popular Project Gotham Racing franchise might soon see its fifth installment, as the company is reported to be looking for third-party developers interested in creating Project Gotham Racing 5.

For those not familiar with Microsoft's racing franchise, Project Gotham Racing made a huge splash on the original Xbox, while PGR 4 set new benchmarks on the Xbox 360.

The franchise was developed by UK-based Bizarre Creations for Microsoft, but the studio was acquired back in 2007 by Activision, leaving the IP in the hands of American software corporation.

After its own in-house studio, Turn 10, developed another successful racing franchise, in the form of Forza Motorsport, it seems that Microsoft wants to revive Project Gotham Racing.

According to a report from UK magazine Develop, Microsoft is currently in talks with several European independent studios about Project Gotham Racing 5, a brand new installment in the series.

Microsoft's Shane Kim revealed a few years ago that the PGR franchise will return in the future, but only rumors and speculations appeared up until now.

For the most part, people thought that Turn 10 would be handling the series, given its experience with Forza, but this new report seems to contradict this, as Microsoft wants fresh talent for the prestigious franchise.

Besides the original Halo: Combat Evolved and Halo 2, the Project Gotham Racing titles were some of the most successful games released for the original Xbox.

Microsoft was contacted by Develop for statements, but only revealed that it doesn't comment on rumors or speculations, so we'll still have to wait and see if Project Gotham Racing will be making a comeback anytime soon.

Until then, Xbox 360 racing fans can purchase the upcoming Forza Motorsport 3 Ultimate Collection, developed by Turn 10, which has the game that appeared last year and all of the downloadable content that was released for it, plus content from one of the most popular TV car shows, Top Gear.