In a move completely opposite of what he said about doing a possible Transformers 3 for 2012 back in March when Transformers: Revenge of the Fallen is done, Michael Bay is leaving the transforming alien robot franchise. Said director saying, "It's easy to go shoot an art movie in a winery in the South of France. But people have no idea how hard it is to create something like Transformers. They (the critics) review me before they've even seen the movie." Mind, said news came from WENN that's found on IMDB, so it's hard to tell at the moment or if he'll change his mind later down the road. We're treating this as a rumor for the time being. In short, if TF3 is greenlit by the movie higher ups and Bay's not on board, they'll have to look for a new director to handle the reins.

Read up on it at IMDB, and sound off at this thread.