“Mr Stark, I feel very good!”

After countless negotiations that failed between Sony and Marvel over the rights to keep Spider-Man in the Marvel Cinematic Universe, the web-slinger’s future looked uncertain leaving many fans disappointed and heartbroken.

However, Sony Pictures (via Variety) announced today that Marvel Studios will produce a third Spider-Man film meaning the young Avenger, who will continue to be played by Tom Holland, will stay in the MCU for another outing which is scheduled for release on July 16th 2021.

Kevin Fiege and Amy Pascal, who both produced the first two solo Spider-Man MCU outings, will return once again with producer roles. Amy Pascal had the following to say about the deal which was struck late on Thursday night:

Peter Parker’s story took a dramatic turn in ‘Far From Home’ and I could not be happier we will all be working together as we see where his journey goes.

Marvel Studios head Fiege had the following to add to the announcement:

I am thrilled that Spidey’s journey in the MCU will continue. Spider-Man is a powerful icon and hero whose story crosses all ages and audiences around the globe. He also happens to be the only hero with the superpower to cross cinematic universes, so as Sony continues to develop their own Spidey-verse you never know what surprises the future might hold.

Financial details of the agreement have seemingly been confirmed too with Disney continuing to receive 100% of the Merchandising revenue and roughly 25% of the profits meaning Sony keep a whopping 75% cut (of what will presumably be another $1B+). As part of the agreement, Spider-Man will also be able to feature in one future Marvel Studios film.

CCO of Sony Pictures Entertainment, Robert Lawson, also commented on the new deal:

We have had a great collaboration over the last four years, and our mutual desire to continue was equal to that of the many fans. We are delighted to be moving forward together.