According to the Twitter account of Three Fields Entertainment, the studio is currently working on two new titles and hopes to release it in early 2015. The company was founded by Criterion founders Alex Ward and Fiona Sperry. Criterion is responsible for the Burnout series and some of Need of Speed games.
We have TWO titles in development and hope to release both in early 2015.
— Three Fields (@3FieldsEnt) May 9, 2014
In addition to the news, they also tweeted out hiring Criterion's chief technical officer Paul Ross as the studio's own CTO. He has been a part of the former company for 18 years and has worked on two Need for Speed games and one Burnout game. It was also revelead that Three Fields Entertainment is also looking to expand their staff beyond people who used to work for Criterion.
There's no word on whether or not the aforementioned titles will be racing titles. We'll be updating this story as soon as it develops.