CDPR published a new regulatory announcement on Monday in which the studio told investors that it had established an impairment allowance related to expenses in developing the upcoming Witcher title.
According to the report, the total expenses for developing Project Sirius were $7.6 million in 2022 and $2.2 million in the first two months of 2023 alone. The announcement said that these sums "will burden the financial results," adding the "aforementioned decision is based on results of evaluation of the scope and commercial potential of the original concept of Project Sirius, and ongoing work on formulating a new framework for this project."
Did CD Projekt write off Project Sirius, the new multiplayer Witcher game from The Molasses Flood? pic.twitter.com/dJjS6uXhwM
— Derek Strickland (@DeekeTweak) March 20, 2023
Then, on Tuesday, in response to concerns that the project would be cancelled entirely, a CDPR spokesperson had this to say:
Our current focus is ensuring that Project Sirius is aligned with the strategy of the CD PROJEKT Group. At this point in time, we are neither providing insight into the evaluation of the project nor the potential future frameworks thereof.
The studio announced in October that it is working on a sequel for Cyberpunk 2077 and three new Witcher games. CD Projekt Red will be developing a new Witcher trilogy while The Molasses Flood will be taking charge of Project Sirius. Project Canis Majoris is being handled by a third-party studio.
CD Projekt Red acquired The Molasses Flood back in 2021. The American Studio is best known for developing Flame in the Flood. At the time of the game's announcement, the studio described Project Sirius as "an unforgettable story for existing Witcher fans and new audiences."
The Molasses Flood will be one of two developers making Witcher games outside the company’s core studios. The other is Fool’s Theory, which is also working on the remake of the original Witcher trilogy.
Project Sirius was previously in pre-production when it was initially revealed. At the time, it was estimated that the game was two or three years away from launching. The timeline for the project may change with the announcement of the project’s re-evaluation.