UPDATED: Fourth 'Transformers' Has A Release Date, Michael Bay On Board

With director Michael Bay confirming he'll direct, Paramount Pictures powers-that-be reportedly claim a fourth "Transformers" film will hit theaters some time in 2014, reports SuperHeroHype.com and Bay himself.

Bay posted a statement on his MichaelBay.com blog confirming that he's signed on to continue his involvement with the franchise.

"There has been a lot of speculation about what I'm going to do next and when or if I will do another 'Transformers.' So let me set the record straight," he wrote.

"I have just concluded a deal with Paramount to do two movies, but it won't be two 'Transformers.'

"I will first do 'Pain & Gain' with Mark Wahlberg and Dwayne 'The Rock' Johnson.

"Then I will do the next 'Transformers' for release on June 29, 2014."

"Transformers: Dark of the Moon" was yet another smash in 2011, grossing $1.124 billion that moved it into fourth place on the all-time box office gross rankings. Yet despite financials that defied a third straight drubbing by critics, Bay remained fenced about continuing to direct the franchise. If he returns this time - and nothing has been made official yet - it won't be until after he's completed long-time pet project "Pain And Gain."

The smaller-scale drama adapts the true story of Miami bodybuilders  that become active parts of a criminal operation. If the alleged Paramount-projected 2014 window holds true, that will make a three-year gap between films, the longest so far since the $2.67-billion global grossing franchise launched in 2008.

"We'll be there in the summer of 2014," remarked producer Lorenzo DiBonaventura at a recent Hasbro event hyping the upcoming sequel "G.I. Joe: Retaliation." "Michael had a debate because he sort of felt at first that he'd done three. Michael and I are both the same in that we always like to top ourselves. That doesn't necessarily mean bigger. It can be bigger in places, it just means different, but we're going to push really hard as fresh and new as we can be."

Assume what DiBonaventura claims holds up. Assume that means he feels confident he has Bay. Franchise star Shia LaBeouf, like Bay, claimed he was done following "Dark Of The Moon," making him the second major star of the franchise to leave (female lead of the first two films Megan Fox was notoriously fired, on producer Steven Spielberg's orders allegedly, between "Transformers: Revenge Of The Fallen" and "Dark Of the Moon" for comments likening Bay to Hitler.)

DiBonaventura claims the fourth movie will be blazing the franchise's next trail, not further beating down the old one. SHH likens it following up on its predecessors without necessarily making a full reboot.

"Again, we're going to try to do a hybrid there where there will be some characters that come forward - we think, we're still in the process of figuring it out - and some characters that don't, but it will definitely be a different story."

At this point, that could mean anything. Tell us in the comments: what do you predict? Will Fox replacement Rosie Huntington-Whitely bring boyfriend Jason Statham on board, as has been predicted? Will Tyrese Gibson and Josh Duhamel step into even bigger roles? Tell us what you think would improve a fourth film.