With "Transformers 4: Age of Extinction"  being one of the year's highest grossing films, a "Transformers 5" is likely to happen.

However, rumors surrounding the fifth installment of the "Transformers" franchise say that Michael Bay may not direct the film.

Bay has become linked to the franchise, but for "Transformers 5," Bay may move on, passing the torch to another director.

"There's kind of a new chapter, a new direction in movies I want to make," Bay said in an interview. "I have a lot of stories to tell. And it's about flexing new muscles."

If a new director takes on the film, other actors may be cast. 

"Transformers 5" is set for release in 2016, according to rumors. This means that the movie franchise is going back to its two-year trend. Bay broke the trend with "Transformers 4: AOE;" there was a three-year gap between the third and fourth installments. 

It is speculated that "Transformers 5" may be the lowest grossing movie of the franchise. While the last movie grossed close to $900 million worldwide, it earned only $243 million in the U.S., an all-time low for the movie franchise. 

With the critical reviews for "Transformers 4: AOE," many are skeptical about the fifth film.