According to scriptwriter David Goyer via MTV:
This story picks up eight years after the first film. You don't have to have seen the first film. It doesn't contradict anything that happened in the first film, but we're pretending that our audience hasn't seen the first film. It's as if you took that same character where things ended in the first film and then picked it up eight years later—he's just in a much darker, existential place.
Screenrant.com revealed a rumored plot in which Ghost Rider would go up against the demon biker gang seeking to resurrect the demon lord Zarathos. Sounds like a good time. The movie is supposed to start filming in November for a 2011/12 debut.