We already are well aware that the next-generation Ford Mustang will drop some of the current variants and will adopt new ones. There likwly won't be a Shelby model, but instead the new Mustang->ke428 could add a new "SVO" trim level and a few new "Cobra" variations.

Until now, none of these rumors included any details on the race-going version known as the Cobra Jet. A report from Hot Rod magazine claims that Ford insiders confirmed the 2015 Cobra Jet program is already underway, but what the Ford ->ke31 folks didn't reveal was if the 2015 Mustang will be the basis for the Cobra Jet program.

This leaves us no choice but to wildly speculate. Could the next-gen Cobra Jet possibly be a rear-wheel-drive version of the Taurus->ke2299 or Fusion->ke433? Those are both unlikely situations, but intriguing nonetheless. Most likely, Ford will continue on with the Mustang being the CJ's platform, unless it simply can't handle the stress of quarter-mile launches.

Regardless of the platform, a Ford official confirmed that the 2015 Cobra Jet will continue to offer awesome performance and he was quoted saying "Our goals remain the same for next year as they are every year, produce a competitive product at a price that is a value for the racer."

We'll keep you updated.

Click past the jump to read more about the current Cobra Jet.

Ford Mustang Cobra Jet

Ford launched the Cobra Jet for use in competitions, like NHRA Stock and Super Stock racing, in 2013. For 2014, there were only a minor changes, including the addition of two new exterior colors: Gotta Have-it Green and a Cobra Jet-exclusive flat black.

Under the hood, the Cobra Jet makes use of a 5.4-liter, DOHC, supercharged V-8 that delivers a total of 430 horsepower. For 2014, the engine is mated to a new three-speed race transmission with SFI approved housing.

The 2014 Cobra Jet is limited to just 50 units, with each carrying a price tag of $97,990.