Michael Bay, who made his feature directorial debut with 1995's Bad Boys, and also directed the 2003 sequel Bad Boys II, is not involved with the follow-up at this time, although Jerry Bruckheimer is returning to produce.
Sony is trying to make this sequel with the original cast, although it isn't known what other cast members from Bad Boys and Bad Boys II may come back. The franchise follows best friends and cop partners Mike Lowery (Will Smith) and Marcus Burnett (Martin Lawrence) and their adventures throughout Miami. Joe Pantoliano played Lowery and Burnett's cranky superior officer Captain Howard in both movies, and Theresa Randle also starred in both movies as Marcus' wife Theresa. Of course, no story details have been given yet, so aside from Will Smith and Martin Lawrence, it isn't known what other actors are being sought to return.
David Guggenheim also wrote the action-thriller Stolen and the upcoming Narco Sub, which has Doug Liman attached to direct. He also worked on the most recent draft of Uncharted: Drake's Fortune for Sony.