Not the project that the studio reported as cancelled
Word from developer Monumental Games is that apparently a publisher that the studio was working with has backed out of a development deal that it had with the studio. While the studio will not confirm which title the news is related to, we do know that the project is canceled and layoffs are going to result from this cancellation.
When rumors of the project cancellation first arrived from our sources, it was said that the project canceled was none other than MotoGP 10/11, which was being developed for publisher Capcom. From what we now understand, MotoGP 10/11 isn’t the project in question at Monumental and it is slated for release on the Xbox 360 and PlayStation 3 in March 2011.
Capcom is confirming that the game is still in production and apparently on track for release. The news still does not help those affected by the cancellation of this other project. Monumental is confirming that the staff cuts are necessary, but it is unknown how many jobs will be lost or at which facilities.