In the run up to the release of Transformers: Dark Of The Moon, it was said that this would be the last giant robots film for both star Shia Labeouf and director Michael Bay. However while that seemed pretty definite on the Shia score, Bay has said he’d never make another after every installment, before signing on again a few months later.
While not 100% confirmed yet, Vulture reports that Bay is doing the same again, as he’s in final negotiations to direct a new Transformers film. While he agreed to put his long-gestating project, Pain & Gain, on hold to make Dark Of The Moon, he’s unlikely to do so again, so any Transformers deal will be contingent on him getting to make the thriller first. Paramount meanwhile seems to realise this and so is making backing Pain & Gain part of its deal to get Bay back on board for Transformers 4.
There are no story details yet for the planned relaunch of the franchise without Labeouf, but it’s been said it definitely won’t be a prequel, but it will delve deeper in Transformers lore.