According to Total Film, Michael Bay is finished with the franchise (yeah right).
Hollywood directors, start writing your CVs now. Michael Bay has said that he will not be returning for Transformers 3, should Paramount decide to make it.Here is the thing to pay attention to. First the source is WENN whose function is to essential funnel crap from papparazzi to the public so accuracy isn't a priority. Second, his statements are similiar to what he has been saying for a while now about needing a year break before returning for the third film, which is why there are two potential release dates floating around - July of 2011 or 2012. Third, notice that they didn't actually quote Bay himself saying he was quitting. They just stated it. His actual quotes are complaining about the critics.
“It's easy to go shoot an art movie in a winery in the South of France,” he said. “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."
It seems like a strange time in his career to be worrying about what the critics think, but it seems Bay’s mid-life crisis is genuine.
He adds, "After the three and a half years I've spent making these movies, I feel like I've had enough of the Transformers world.
"I need to do something totally divergent, something without any explosions."
If he said 'I am not making Transformers 3' there would have been quotation marks around that statement. So until he is quoted (preferably on his website or on video), I am taking it with a grain of salt. I am not saying the Bay will not quit, that is always a possibility with Hollywood types, but I think the main reason he may not return is if Paramount refuses to give him a year break he is asking for. Its like with the movie spoilers, until its proven from official sources, its all speculation. Thanks to Thirston and Florian for the link.