During the PS2 era, Sony had three big 3D platforming franchises that it pushed as tentpoles for the console. These were the Jak and Daxter series from Naughty Dog, Ratchet & Clank from Insomniac Games, and Sly Cooper from Sucker Punch Productions. Fast forward to 2021 and only the Ratchet & Clank franchise is still seeing regular new releases, but if a recent leak is any indication, it seems that fans may finally be getting the long-awaited Sly Cooper 5.
A 4chan post recently claimed that Sly Cooper 5 is in development, and while that particular "leak" doesn't have much merit, the game's existence was then backed up by reputable leaker Shpeshal_Nick. Nick commented on a since-deleted Reddit post discussing the supposed Sly Cooper 5 leak, though clarified that it may not be Sucker Punch that's handling the development of the game. According to Nick, he's "kept being told" that Sucker Punch is not the studio developing the new game.
Another commenter asked Nick if he knew whether or not Sly Cooper 5 would be a continuation of Sly Cooper: Thieves in Time, the fourth game in the 3D platforming series and the latest entry. Unfortunately, Nick was unable to provide any clarification on that matter, with their sources apparently only confirming that the game is in development and by a studio other than Sucker Punch Productions.
Sly Cooper: Thieves in Time ended on a cliffhanger, so it would make sense for Sly Cooper 5 to resolve it. As for which development studio could be working on a potential Sly Cooper 5, that's anyone's guess. While the original Sly Cooper trilogy was developed by Sucker Punch, Thieves in Time was made by Sanzaru Games, a development studio that was acquired by Facebook to exclusively make Oculus games.
Since Sanzaru Games is off the table as Sly Cooper 5's developer, one has to wonder which team is making the game. Of course, that's assuming there's any merit to these claims at all. It's entirely possible that Shpeshal_Nick has been given incorrect information and Sly Cooper 5 isn't actually in development. Nick has proven to be a fairly reliable source when it comes to leaks, but it's always better to keep one's expectations in check when it comes to these things.
As for Sucker Punch, the studio is rumored to be working on Ghost of Tsushima 2, and it's had its hands full porting Ghost of Tsushima to PS5 with extra content. So if anything about this rumor is easy to believe, it's that a different studio has been given the reigns of Sly Cooper 5.
Sly Cooper 5 is rumored to be in development.