The Saints Row franchise has been going around for a while. There were also rumors regarding the release of Saints Row 5 at some point this year. However, it is highly unlikely for a new Saints Row to be released, at least not for a while.
The possibility of Saints Row 5 coming out is based entirely on speculations. There is not any confirmed development of any Saints Row title right now since the Volition has not said anything of the sort. After the company’s bankruptcy, the fourth title of the franchise got released, and we all know what a terrible Saints Row title that was.
The first Saints Row titles were admirable and exciting. They were closer to the Grand Theft Auto franchise in nature and a decent competitor to it. However, Saints Row 4 was a lot different despite its successful sales during its first week that followed its release. To top it all off, not even Gat out of Hell was a true successor of the first epic Saints Row titles.
After that, Deep Silver created another game similar to the Saints Row titles, hoping that it will be equally successful. Agents of Mayhem had the best marketing plan, making fans think that it will be the Saints Row game they were asking for, only under a different name. It looked like it would resemble the original Saints Row titles, but it turned out to be like the fourth one. Deep Silver recently stated that Agents of Mayhem never had the success they were hoping for.
It seems like after the bankruptcy the company has kind of lost its original vision for the Saints Row franchise. Judging by the fact that the rumors for a fifth title are entirely random, we can only assume that Deep Silver will not create the title at all. It is not worth the risk unless they decide to make a game that is closer to the old-school Saints Row ones than the newer ones. If they continue not revealing anything of the sort to the public, consider it a lost cause.