Reports are just coming out that race car driver and builder of high performance Mustangs, Steve Saleen, is set to reacquire the Saleen brand and name. Many may not have been aware that he even left the company, so here's a bit of background info for you: Saleen retired back in 2007, but he soon launched another company called SMS Supercars. Both his new and former companies remained on good terms and each did their own thing.

However, in 2009 Saleen, Inc. was sold to MJ Acquisitions and Steve Saleen clearly stated he wasn't happy with the move and that the new owners didn't have the right to use his name and the brand name. Not long after that, Steve Saleen filed suit against the buyers. For a time, both companies continued to produce cars under their own names, but now it's being reported that he has won that lawsuit. So what exactly happens now? Mustangs Daily is reporting that it's likely the company will continue building high performance Mustangs and other new vehicles, all of which will be under the Saleen name.

SMS Supercars will now be rebranded as Saleen and new cars (specifically Mustangs, Challengers, and Camaros ranging from 425hp to over 750hp) are expected to be built for the 2013 model year.