The rumour mill is - literally - in overdrive.
With constant speculation about the next move of Clarkson, Hammond and May, there's also the not-inconsequential matter of who will be joining Chris Evans to present the revamped Top Gear. And an unlikely new contender has emerged in the form of former Formula One World Champion Jenson Button.
Currently still racing in Formula One, he's enduring a nightmare season at McLaren; despite the team boasting two former World Champions (his teammate is Fernando Alonso) they are struggling badly - Button has picked up just 6 points from 10 races, with 4 retirements in amongst that number, while Alonso has 11 points, with 5 retirements.
His World Championship victory came back in 2009 and, considering his team's struggles and his age of 35, he could well be looking for a career change.
Daily Mail columnist Sebastian Shakespeare wrote that a source told him that "an announcement is imminent", while Button's spokesman and the BBC have refused to comment - although neither denied that the rumours were true.
Chris Evans has recently said to Top Gear magazine that his co-hosts were "nearly in place", adding that, "There’s a lot of talk about talent at the moment. Honestly, it’s not the furthest thing away from my mind, but it is quite distant compared to directors, producers."
Button has appeared on the show twice before, taking part in the 'Star in a Reasonably Priced Car' feature, and is said to be friends with Evans, while Jodie Kidd is amongst others tipped for the co-host role.
He's also recently said, “I would be pretty happy if I retired now with my career in terms of achievements", so it wouldn't be too much of a wrench to change careers now.
Does Shakespeare have his finger on the Button? We shall soon find out.