Saleen Inc. the world’s renowned specialty automaker is getting clearer about its coming times, as there were reports that a Michigan group had purchased the most part of the company during the last week.

A unit known as MJ Acquisitions that owned many engine and other auto parts companies had purchased the street car program of Saleen, however, the terms have not been revealed yet.

Different models of Saleen supercars like the S5, S7 and its paint-shop Viper operation have not been included in the said deal.

Similarly, ASC which is Saleen’s sister Co. is also not a part of that deal.  Chirs Theodore, who has already served as an executive at Chrysler and Ford, is serving as Saleen’s current president, but he is also considering stepping down from the company’s presidency by the end of this month.

The new owners of the company are planning to keep its current value performance program going. They are planning to add a new model of a pony car in the company’s S-Line as well.

Saleen is quite well-known for its quick and fast Stangs for a long time. Steve Saleen, who was a famous race car driver, was the founder of the company.

However, the company got in flux after the departure of many other top execs and founder Saleen himself. Theodore is quite optimistic about the future of the company as he says that its new owner would put the company on real solid footing.