After two successful tries, with stars Will Smith and Martin Lawrence leading the way, the "Bad Boys" film franchise is set to return with its third installment.

Columbia Pictures has hired Peter Craig to write the screenplay. However, so far, there is no promise that director Michael Bay, or stars Will Smith and Martin Lawrence will return, reports Geeks of Doom.

Right now, the plan is to get a script finished, and hopefully, it's good enough to get all the original people onboard.

Currently, everything is in the early stages.

The first two films feature Smith and Lawrence as Miami detectives Mike Lowrey and Marcus Burnett, who get caught up in high action situations, such as car chases and explosions.

The original "Bad Boys" came in 1995, and helped launch the career of Michael Bay as a director and Will Smith as an action star, despite only grossing around $66 million in the US.

Its sequel, however, fare a lot better, raking in $138 million domestically and $273 million worldwide.

According to Reuters: 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.