Mike Myers has reportedly finalised negotiations with New Line Cinema to deliver the fourth installment in the Groovy Austin Powers franchise, after a staggering ten-year hiatus.

In what’s truly shaped up to be the year of the franchise, E! News reports that Myers is set to resurrect his three trademark characters; Austin, Dr.Evil and Fat Bast**d.  And not only will he star in the upcoming project, but he’s agreed to also write and produce on the action-comedy film.

Since the last installment  Austin Powers in Goldmember was released in summer 2002, Myers has kept busy with another famous franchise Shrek along with writing and producing the box-office blunder The Love Guru.

The James Bond parodies have a reputation of casting some of Hollywood’s rising leading ladies including Beyonce and Elizabet Hurley but New Line Cinema have kept tight-lipped over Austin’s latest  partner in crime.