The original Mustang Shelby GT500 had a short four-year lifespan from 1967 through 1970. It would take another 37 years for the nameplate to return, and its revival cemented the OG Shelby as a legend. Buyers flocked en masse to Ford for the reborn 2007 Shelby GT500, assuming it would be another short production run, but it quickly became the flagship Mustang for over a decade—give or take a couple of model years.
The launch of the S650 Mustang in 2023 (as a 2024 model) left the mighty Shelby’s future unclear. With electrification on the rise and competitors from Chevrolet and Dodge bowing out—not to mention the bonkers Mustang GTD setting Nürburgring records—did a new GT500 even make sense?
The answer, apparently, is yes. After two years of radio silence, a leaked memo from February 2025 referenced the Shelby’s return. Here’s what we know so far about the next great Pony Car.
What Will It Be Called?
We’re going to address this seemingly obvious question because there’s a good reason for it. Prior to the leaked memo, rumors suggested Ford may resurrect another name from Mustang’s history to take the GT500’s place: Boss 302. Even a return of the SVT Cobra moniker wafted through the internet’s digital halls. That’s not to say Ford won’t build those other Mustang variants too—we all know how much the company loves its special-edition ‘Stangs. But the leaked memo clears the air. A new Shelby GT500 is coming.
What Will It Look Like?
The only things certain in life are death and taxes—and racing stripes on a Shelby Mustang. Beyond that, we think Ford will move away from the gaping-mouth design of the previous generation and build on the design cues from the Dark Horse.
Our exclusive rendering showcases the Shelby’s new face with a larger take of the Dark Horse’s grille. It dips a bit lower into the fascia, where prominent vents feed more air to the engine bay and brakes. The sides of the fascia angle up, similar to the previous GT500, meeting the edges of the headlight and feeding into the Shelby’s wider stance.
Speaking of which, the new GT500 should be properly flared out both front and rear. GT500 test mules with sketchy Dark Horse body panels and camouflaged backsides have been spotted near Ford’s headquarters in Dearborn. The camo disguises extra width at the rear, and misaligned fenders at the front also suggest a slightly wider track. And a new Shelby wouldn’t be complete with a big ol’ vented hood and a rear spoiler.
We don’t know if a Carbon Fiber Track Package will be offered this time around. It’s possible Ford could tone down the track offerings since the GTD now exists as the ultimate corner-carving Mustang. But a big carbon fiber spoiler is virtually guaranteed.
What's Under The Hood?
One doesn’t have a modern Shelby GT500 without a stonking V-8 engine, and there’s good reason to believe this one will be special. The aforementioned leaked memo mentioned production of a new engine with the internal name Legend. Whether this is actually a new engine or just a massaged version of Ford’s existing supercharged 5.2-liter V-8 is unknown. In the previous GT500, that motor made 760 hp, and it makes 815 hp for the current Mustang GTD. We’ve heard some unsubstantiated rumors that 1,000 hp could be targeted.
Interestingly, Ford does have a 1,000-hp engine already in its wheelhouse. The 7.3-liter supercharged Megazilla 2.0 crate engine was announced in January 2025. It’s unknown if this engine meets emission requirements for production use, but if Ford wanted to give this GT500 a proper send-off, you could do worse than dumping a massive pushrod V-8 between the fenders.
This is pure speculation on our part, but a slightly destroked version of this engine would displace 7.0 liters, which is 428 cubic inches. The original GT500 from 1967 through 1970 came with—you guessed it—a 428 cubic-inch V-8. Legend, indeed.
How About The Chassis?
Ford generally hasn’t done much with GT500 suspension tuning in the past, save for the previous generation, which swapped in MagneRide magnetorheological dampers and a host of other upgrades. Bigger brakes will certainly be part of the new GT500, but the GTD’s existence adds some uncertainty. Will Ford make a concerted effort to upgrade the GT500’s handling chops?
We think a comfortable middle ground is likely here. Test mules have already been spotted with old GT500 wheels and Michelin Pilot Sport Cup 2 tires, so handling will matter for the new car. It’s just a question of how close Ford wants to get to the $300,000-plus GTD’s capabilities in a cheaper (but still expensive) GT500.
How Much Will It Cost?
In short, expect the new GT500 to be plenty expensive. The previous Shelby GT500 started north of $80,000 and reached well beyond $100,000 with options added in. And Mustang prices have only gone up since then—the 2025 Mustang GT with its 485-hp V-8 starts just under $50,000, and a Dark Horse Premium is over $70,000. It’s reasonable to believe the new Shelby GT500 with its Legend engine will start at least in the high $80,000 range. But we wouldn’t be surprised if Ford just bumps it to $100,000.
When Will It Arrive?
The leaked memo mentioned adding more production shifts later in 2025 for the 2026 Shelby GT500, so we could see this car debut before the end of this year.
