Including the concept planning and pre-production phase, the game has already been in development for over 4 years.
• It entered full production in January 2010, a month after FFXIII was released in Japan. Since then it has had a development team of just over 200 people.
• The director is the same person who directed FFVI, FFIX and FFXII, Hiroyuki Ito.
• The co-director led a small part of the development team to make Tactics Ogre for the PSP in parallel with FFXV. He’s currently multi-tasking as lead UI designer of FFXIV 2.0 and co-director of FFXV.
• The game design and battle system will be a major evolution of FFXII.
• The game will be open world and have sprawling, crowd-filled cities on par with Assassin’s Creed.
• The battle system now allows you to target different parts of an enemy’s body like in Vagrant Story.
• Yoichi Wada (president of Square Enix) wants the game to have a world scale and volume of content that surpasses The Elder Scrolls V: Skyrim. He also wants the game to surpass FFVII in worldwide sales and critical reception.
• Will release on all major current gen platforms.

source : http://thesilentchief.com/2012/07/18/gamesmaster-uk-rumor-final-fantasy-xv-four-years-in-development-will-release-on-current-gen-platforms/

sounds legitimate enough to me

"All major current-gen platforms."

This one will be Square Enix's litmus test, Dragon Quest X notwithstanding.

At this point, it's hard to get excited for an FF game. I haven't enjoyed a main series title since 2001 or something. Still, if this is true, it could be the revitalization the series needs.

Final Fantasy was one of the first franchises I got into and was my favorite along with Mega Man. That being said, FFVI was the last game in the series that I bothered to finish, I really don't like the direction it has taken. I am willing to give this game a chance but I doubt it'll recapture the magic of old.

As long as the game is nothing like FF13, or it's demon spawn sequel. in any aspect, I'll be happy.

Imagine if you could go back to 1999 or something and tell people "Hey, 2010 is going to have TWO main line Final Fantasy games, and neither will be the best RPG that year, or even close?" People would think you were crazy! On top of the whole time traveling thing. Or alternatively, imagine going back ten years and explaining why rumors of a new Final Fantasy game are being given a "meh."

I'd say that this has to do with the decline of the JRPG or something, but in all honesty, they're doing as well as ever. Pokemon 5th gen was great, Dragon Quest 9 was a hit, Kingdom Hearts is getting good reviews, Dark Souls was one of the best received games of 2011, and Xenoblade is being called one of the best JRPGs ever.

So, I guess what I'm rambling about is, something happened to Final Fantasy in particular. And whatever happened sucks.

Already hyped for this. I enjoyed FFXII a lot more then FFXIII. FFXV could be awesome, but we need FFVXIII 1st.

I dont believe this rumor honestly

If the next numbered Final Fantasy game was coming this gen it would have been announced by now. Next year is the last year before MS and Sony launch their new consoles

so they are making FFXV, when the have not even released FFvsXIII? WTF?!

poor Nomura, it is like the big ones at SE hates him or something