We've resisted the urge to report on the rumors of a new brand coming from Saleen (original style, not the new SMS brand run by Steve Saleen himself). But today The Chrome Pony offered up some dish that was just too good to pass on. According to them, a memo to Saleen dealers has been leaked which details the release of an upcoming "Racecraft" brand. While the Racecraft name has been on Saleen suspensions from the beginning, this would signal a change in the direction of the brand.

If we are to believe the rumors, Saleen will be unveiling the new brand as an entry-level performance option. The first offering would be the "Mustang 420S," a pumped-up car with a supercharged V8 producing 420 HP, reworked suspension, bigger wheels with better rubber and interior upgrades. The best part? The whole package is said to come in at $38,995. Contrasted with the Saleen Sterling Edition S302 for $100,000, and the 420S looks like a helluva bargain.

Perhaps more interesting is the prospect of a hotted-up Ford Focus coming in at under $20,000. We're also wandering if this product line will wander into GM territory, as Racecraft currently offers parts for the old Camaro. When contacted, Saleen officials declined to go on record about any of these subjects, but assured us a press release was on the way, which effectively confirms something is in the works. Guess we'll just have to sit on our hands and wait to find out more. [TheChromePony]