Michael Bay has finally confirmed that he will be directing Transformers 5 but added that this will be his last in the series.

While speaking to Rolling Stone about his latest release 13 Hours: The Secret Soldiers of Benghazi, the director addressed the rumours about his coming on board for the Age of Extinction sequel. While he said he was working on the film, he also revealed that this would be his last Transformers project.

"I'm doing Transformers ... 5, is it? I've taken on a lot of work. ... It's fun to do a movie that 100 million people will see. But this is the last one. I have to pass the reins to someone else. J.J. [Abrams] told me, 'You're the only guy that could do this.' But it's time to move on. One more."

Also recently, Bay spoke with WGN Radio about the progress on the fifth instalment of the franchise. Interviewer Richard Dean asked Bay if he was planning on blowing up Michigan Avenue again, in response to which the director revealed what could be an important detail about the setting of the film.

"No, we're gonna find a new street," Bay said. "But I love Chicago." And then, referring to some of the city's systemic problems, including gun violence, added dryly: "We'll come in with some Transformers to even it out."

In an interview with CinePop, while promoting his latest film with Will Ferrell, Daddy's Home, Mark Wahlberg also confirmed that he would be back for Transformers 5.

Akiva Goldsman won't be writing the movie, as he is set to supervise the writing teams for G.I. Joe and conceptualizing Micronauts. The report reveals that while Goldsman will still be supervising the creative process behind Transformers 5, new scribes are coming on board to put pen to paper. The writers of Iron Man, Art Marcum and Matt Holloway, and Black Hawk Down's Ken Nolan.

The Transformers 5 placeholder logo was recently unveiled via a ComicBook report at Hasbro Investor Day. Half of the logo is a red stencil of Optimus Prime's face and the other half is symmetrically shaped as the number 5. The report goes onto state that judging by how the placeholder logo for Transformers 4: Age of Extinction ended up being the official logo for the film, this will also be most likely the logo for Transformers 5.

Hasbro's president, Stephen J. Davis, recently confirmed that four more sequels have been planned for the series, and they will span over a decade.

Davis also revealed that most of the conceptualizing and initial writing for Transformers 5 has been completed.

"You're going to see a new Transformers movie coming from Hasbro and Paramount and Michael Bay and our other partners," Davis said. "In fact, we just finished -- as some of you may have read -- an incredible experience. We decided we wanted to plot out the next 10 years of the Transformers franchise, so we got together in a 3 month period of time...nine of some of the most creative writers I have ever worked with -- shepherded by Akiva Goldsman, who many of you may know won an Academy Award for A Beautiful Mind, and written a bunch of great movies. And they plotted out the next ten years of Transformers. Similarly we are doing the same in television and digital. So stay tuned Transformers 5 is on its way. ...And 6 and 7 and 8."

Some more plot news came from voice actor Mark Ryan's interview with Dark Horizons, in which he hinted that the movie will most likely have two different storylines.

According to an IGN piece, the first storyline will focus on Cade Yeager (Mark Wahlberg) on mortal lands. And as we had previously suspected the second storyline will follow Optimus Prime's journey in search for his creators, the Quintessons.

Mark Wahlberg has confirmed that he is returning for the fifth in the series, nothing is known about if any of the other Age of Extinction actors will be reprising their roles. No other actor has been attached to star yet.

In another interview, Brian Goldner, CEO of Hasbro, revealed that the movie was aiming for a 2017 release.

Transformers: Age of Extinction hit theaters on June 27, 2014.

Tags: Transformers 5 Movies