We give you the full scoop on the twin-turbo GT500 possibly in the pipeline as one Shelby's last hurrah. Find out more inside.

California blog MustangsDaily.com is reporting that Carroll Shelby may be working on a few new "big dreamer" type of car models before heading off into the sunset of retirement.  Amongst these could be a $100,000 Shelby GT500 twin-turbo using the entrepreneur's in-house developed 5.4-liter V8 that combines with the turbos to produce over 1,000 horsepower (746 kW).

The engine would be mated to a six-speed manual transmission with a short-throw shifter, with paddle shifters also available.  If built, the blog says the car would use six-piston caliper front and rear brakes from Shelby/Baer, along with a host of other racing features.  These include a 10-point roll cage, safety loops on the unique driveshaft, front and rear brake ducts, a Ford Racing suspension and drag axles.

Because of the car's potential for the track, it could also have a dual fuel system to make room for racing fuel.  The special Mustang would also get a widebody kit, vented hood, and 20-inch Alcoa wheels.  Despite the weight savings provided by several carbon fiber bits, leather seats and premium stereo equipment were not eliminated.

Another potential project could be a Shelby GTS package that might cost upwards of $12,000.  The kit, set for the stock Mustang GT and V6, would include upgraded brakes, a new front and rear fascias, redesigned hood, and stepped up exhaust.  GTS options, like bigger, more powerful brakes and a Shelby/Eibach suspension would also be offered.

Hopefully, we'll get more information about the future of Shelby in due time, including whether or not the Shelby GT500 is the legend's last killer beast.

Gallery: Shelby GT500 twin-turbo with 1000hp rumors surface

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