I AM EXCITED, even for the possibility. I own all the movies + the soundtracks. Yep!

Will Smith and Martin Lawrence are always a good combo to me, I don’t care what anyone says. If Chris Tucker and Jackie Chan can make a “Rush Hour 3″, why can’t they do another “Bad Boys”?! Plus, Will needs some more action. What is Martin doing anyway lately?

Columbia Pictures is developing a third installment of the high-octane “Bad Boys” franchise, tapping Peter Craig to pen the screenplay.

The hope is to have a script that would reunite director Michael Bay, producer Jerry Bruckheimer and stars Will Smith and Martin Lawrence. At this point, with the project in the early stages, none has a deal to return.

The “Boys” movies feature Smith and Lawrence as Miami detectives Mike Lowrey and Marcus Burnett, caught up in cases involving car chases and explosions.

The first “Boys,” released in 1995, helped launch Bay as a director and Smith as an action star even though it was not a fire-stamped blockbuster — it grossed $66 million domestically and $141 million worldwide.

The sequel, released in 2003 when Bay and Smith’s stars had risen, grossed $138 million domestically and $273 million worldwide.

All parties have expressed a willingness to return if a story can be hammered out. One potential hurdle, however, would be the costly deals with the players. (Source)