According to Deadline Hollywood Daily, the IronMan director has finally inked a deal with Marvel Studios to direct Iron Man 2.
The studios offered the director a bigger salary than what was originally proposed.
Favreau was not pleased at first with the deal, because he said that it was unrealistic to expect the second Iron Man to come out in April 2010, as Marvel intended. The screenplay hasn’t even been written.
We know that Robert Downey Jr. will on board, since there was a clause in his contract obliging him to participate in the second film.
Terrence Howard and Gwyneth Paltrow are also expected to star in the film, although nothing has been confirmed.
With a budget of $140 million, Iron Man has earned $563.8 million worldwide since its release in May.
In addition, Jon Favreau also has an acting role in the comedy Four Christmases, in which he plays opposite Reese Witherspoon and Vince Vaughn. The film comes to theatres November 26.