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EXCLUSIVE: With Sony and Disney/Marvel having agreed to co-financing terms on the third Spider-Man Homecoming movie Friday, it should come as no surprise to hear that Jon Watts is in talks to return to the $2 billion-grossing franchise he directed. This is great news for fans of the series as it means continuity.

The hope we hear from sources is that Watts’ deal will be wrapped soon. Essentially, Sony and Disney/Marvel sought to hammer out their co-financing agreement on the third Spidey pic first, before turning their attention to re-upping Watts.

At the time the Sony-Disney battle went down last month, Watts didn’t have a deal for the next Spider-Man picture and he wasn’t a lock to return.

Kevin Feige has a knack for choosing innovative voices in independent cinema to steer his Marvel movies. Watts was chosen off his 2015 Kevin Bacon movie Cop Car which made its world premiere at the Sundance Film Festival. He delivered a fun, boyish spirit to the third reiteration of Spider-Man, which the previous reboot by Sony lacked in its gloomy tone.

Watts’ Spider-Man: Homecoming delivered an $880 million worldwide gross to Sony, while this past July’s Spider-Man: Far From Home was the Culver City lot’s highest-grossing pic ever with $1.13 billion worldwideThe first Homecoming is estimated to have profited $200M after all ancillaries. Amy Pascal will also produce Homecoming 3 through Pascal Pictures.

Watts is repped by CAA and Bloom Hergott.

As reported this morning, after months of negotiations, Disney will fund 25% of the third Spider-Man: Homecoming for a 25% equity stake, while Sony continues to get a distribution fee. The Tom Holland Spider-Man character will then be seen in another Disney/Marvel movie.