Racing gamers with Microsoft proclivities will no doubt remember the name Project Gotham Racing – a four-title-long series for Xbox and Xbox 360. The first couple of PGR games held sway over Xbox users though seemed to be outshone by the Forza Motorsport series on the 360 platform.

Now the Xbox is set to undergo yet another generational change and rumors are swirling that Lucid Games – an independent studio formed by former members of Bizzare Creations, which produced the original PGR games – has a new Project Gotham up its sleeve.

Lucid posted a status update on its Facebook page that reads as follows: "So yeah, Mid-May will be interesting for the studio. We have some exciting updates coming. Stay tuned!" Along with the update is the image you see above, which broadly hints at a racing game based in London. Connecting the dots on all of this are the gaming experts at Joystiq, who believe that these tea leaves all point to a new PGR upcoming for the next-gen Xbox.