Favreau was on Howard Stern this past Tuesday, and revealed that he has not yet been signed for the sequel. "They haven't offered me anything yet. They're all talking -- they want to do it, they even announced a date."
I want to believe that it means nothing, that things are in such a talky, pat-on-the-back stage that they don't mean anything by it. But still, before you talked to Entertainment Tonight and announced a release date, wouldn't you slap the director on the back and say "I hope you're coming back for the sequel!" Just as a courtesy? A "Good job, Favs!"
After being pressed by Stern, Favreau revealed his director's salary -- $4 million for the first film, with a NET profit deal which will pay a very small percentage once the film begins to turn a profit. But that won't happen for years with the magic of movie bookkeeping. And when a film makes mega bucks, like Iron Man did, all previous contracts are pretty much thrown out the window. That includes those Iron Man actors who have signed on for sequels. "They're all signed for three but it doesn't work that way. That all goes out the window when you make $100 million dollars," said Favreau. "Because people want to have a good relationship with the people they are working with, and if they're making that kind of money, it's an understanding that they're going to negotiate." (Isn't this a fun look into the world of legalities? I thought so.)
And if ever signed on to direct a sequel, Favreau confirmed that he was interested in the famous Demon in a Bottle storyline. As if anyone suspected otherwise.
Don't get me wrong, I am in no hurry for them to race Iron Man 2 into production. But I'm simply amazed that "talks" have not yet included the man most responsible for the film's success. Like I said earlier, it's probably nothing but hyperbole and assumptions, but it is all very cold.