The Grey director Joe Carnahan could helm Bad Boys 3
The first film debuted all the way back in 1995 - alarmingly that's 20 years ago now. The sequel followed in 2003 which means a third film sometime this decade would make a bit of chronological sense. Will Smith and Martin Lawrence are still interested in taking on these action roles again, and there's a script in the ether, just waiting to be filmed.
The latest news is that writer/director Joe Carnahan is circling the project. He burst onto the scene with Narc around the time Michael Bay was directing the second Bad Boys film and has since worked on Smokin Aces, The A-Team, The Grey and Stretch. So he's got experience with action and fast-talking folks, and his scripts tend to be zany, fun and often smarter than they're given credit for.