Fans of Batman’s infamous foe, The Joker, may want to sit down for this one. Rumor has it that the Clown Prince of Crime is officially getting his own movie.

According to The Hollywood Reporter, Warners’ DC Entertainment is officially moving forward with a stand alone Joker movie. The production company has even brought on Todd Phillips (The Hangover) to co-write and potentially direct the film.

Philips is set to work with 8 Mile scribe Scott Silver on the upcoming project and the goal is to have the film serve as an origin story for The Joker.

Interestingly, WB isn’t looking to bring on Suicide Squad star Jared Leto to reprise his role as the famed villain, but there’s a good reason why!

Currently, the studio is looking to expand its production company to include a developing label for Warners’ DC Entertainment properties. The new off-branch would include projects that wouldn’t necessarily be tied together in the same universe like the entities that already exist within the DC cinematic universe.

Though Leto’s Joker will still exist within the Suicide Squad universe, the new stand alone film would exist in a separate one, and would feature an entirely different actor in the role.

Though not much is known about the project, rumor has it that the origin story will be set in Gotham City in the early 1980s.

Meanwhile, Deadline is reporting that there’s another big name attached behind the scenes. According to the news outlet, Martin Scorsese is also rumored to be producing the upcoming project alongside Phillips.

We’ll be interesting to see if Scorsese in particular boards the project, and of course, we can’t wait to see who the studio taps to play The Joker this time around!