[UPDATE] Following the publication of this story, a Ubisoft representative issued a statement on Ancel's rumored departure.
"Michel is currently hard at work with the rest of the Rayman Legends team and is committed to delivering an amazing and unique game for the Wii U, Xbox 360, and PlayStation 3 in early September," the statement reads.
The original story follows below
Rayman and Beyond Good & Evil designer Michel Ancel may be on the way out at Ubisoft. GameSpot sister site Gamekult has heard from sources close to the company that the longtime developer is thinking about leaving Ubisoft with a small team of developers.
According to one source, Ubisoft management is aware of Ancel's intentions and may even elect to be involved with the developer's next project. A second source claims Ancel has already give notice that he is leaving and five or six developers from Ubisoft Montpellier are prepared to leave with him.
If Ancel does leave, he will remain "tied to Rayman" in some fashion, this source said. A Ubisoft representative was not immediately available to comment.
Earlier this month, Ancel and other developers were photographed publicly protesting the Rayman Legends delay and loss of Wii U exclusivity. Development on Rayman Legends for the Wii U was reportedly finished, but the game was pushed to September so it could ship simultaneously for the Xbox 360, PlayStation 3, and Wii U.