Wasnt there a job listing about new studio in San Diego with support from one of the big first party studio (might be Uncharted).
I dont think any racer is reasonable anymore, racing games arent selling as well as they used to and there is no point to make new studio for it. I think Sony should make 120 employee studio for FPS games. Maybe pick two IPs and make games for them. Lets say start with resistance and then pick some other IP and then Resistance again.
Its not a studio in san diego just a new team to work on a 3rd person adventure game similar to uncharted. it could be uncharted who knows.
tho forza sells just fine and there is a lack of racing games. on a playstation platform twice size of xbox I don't see how a good racing game would do bad. even driveclub sold well and it was problomatic early on release