Ubisoft and Nintendo nearly expanded their partnership beyond Mario + Rabbids with a new game set in The Legend of Zelda universe.
According to an exclusive new report from Insider Gaming, Ubisoft Milan began discussing another potential collaboration with Nintendo following the release of Mario + Rabbids Sparks of Hope in 2022.
A screenshot from Mario + Rabbids® Sparks of Hope Gold Edition (2022), Ubisoft
READ: Disney World Disregards Toy Story Land’s Narrative to Incorporate Toy Story 5 Elements in Update
Rather than immediately pursuing a third Mario + Rabbids game, creative director Davide Soliani and a small team reportedly spent months developing something considerably more ambitious.
The project, internally known as “Goliath,” would have been an original Zelda spinoff.
Ubisoft initially planned to introduce a completely new protagonist. However, Nintendo reportedly liked the concept enough to suggest replacing the unknown character with one of its most recognizable villains: Ganondorf. Considering Nintendo’s historically tight control over its major franchises, the suggestion indicated that the company was at least seriously considering the project.
Nintendo Ultimately Rejected the Project
Ubisoft Milan reportedly spent much of 2023 developing Goliath, with the team given until around the end of the year to produce a prototype capable of clearing its next development milestone.
That approval never came.
Nintendo rejected the prototype in November 2023 for reasons that remain unclear. The decision is perhaps less surprising given the company’s historically protective approach to its intellectual property, particularly a franchise as important as The Legend of Zelda.
Link and Epona in The Legend of Zelda: Ocarina of Time – Nintendo
READ: Bob Iger Appears to Respond to Bob Chapek Allegations From Explosive Disney Memoir
According to Insider Gaming, discussions subsequently shifted toward Ubisoft Milan potentially developing a different Nintendo property.
Internal rumors reportedly included Star Fox and another game set in the Mario universe. However, talks between Nintendo and Ubisoft eventually broke down.
The cancellation also had consequences for Ubisoft Milan.
Team members were reassigned throughout Ubisoft, while some were left without an active project. Others were moved to the perpetually troubled Beyond Good & Evil 2.
Soliani, Cristina Nava, and Gian Marco Zanna eventually departed Ubisoft in July 2024 before forming Day 4 Night with industry veteran Christian Cantamessa.
A Partnership That Could Have Changed Ubisoft’s Fortunes
The revelation is particularly interesting considering what happened to Ubisoft in the years following Goliath’s cancellation.
The publisher has endured a lengthy period of commercial disappointments, delays, layoffs, studio closures, and restructuring. In May 2025, Ubisoft reported that full-year net bookings had fallen 20.5 percent to approximately $2.07 billion.
Cost cutting has also hit Ubisoft’s workforce. In January 2025, the publisher announced the closure of Ubisoft Leamington and restructuring at several other studios, affecting 185 employees. That followed additional studio closures and layoffs affecting hundreds of workers.
A screenshot from Assassin’s Creed Shadows (2024), Ubisoft
READ: George Lucas Claims He Had Three More Star Wars To Make Before Retiring
The situation grew considerably worse in January 2026, when Ubisoft announced another major restructuring, canceled six games, and reorganized its operations around five Creative Houses.
The announcement sent Ubisoft’s shares tumbling 33 percent in a single day, leaving the company’s market value at roughly $720 million. For comparison, the publisher had been valued at approximately $12.9 billion at its 2018 peak.
Ubisoft has also turned to Tencent as part of its effort to stabilize the company. In March 2025, the Chinese technology giant agreed to invest approximately $1.26 billion in a new Ubisoft subsidiary controlling Assassin’s Creed, Far Cry, and Rainbow Six. Ubisoft said the deal would strengthen its balance sheet and support its ongoing restructuring.
A Fascinating Road Not Taken
Against that backdrop, the abandoned Zelda game represents a fascinating road not taken.
There is no guarantee Goliath would have been a commercial success, and Nintendo’s reasons for rejecting the prototype remain unknown. Still, Ubisoft Milan had already demonstrated its ability to handle Nintendo characters through two Mario + Rabbids games.
The fact that Nintendo even entertained handing Ubisoft another of its closely guarded franchises makes the project noteworthy. Instead of gaining that opportunity, Ubisoft lost the project and eventually several of the developers who championed it.
Considering the turmoil that followed, the canceled Zelda partnership now stands out as one of the more intriguing missed opportunities in Ubisoft’s recent history.
What do you think a Zelda game from Ubisoft would have looked like? Sound off and let us know!
UP NEXT: Ed Sheeran Reportedly Loses Half a Million Social Media Followers After Macklemore Controversy
