Today brings word (via Empire) that a Rambo 5 screenplay has been submitted by one of the wrtiers of the screenplay for Conan the Barbarian, Sean Hood.

Stallone had told Empire that he was done and “retired Rambo”, literally saying “It’s pretty well done; I’m about 99% sure there won’t be any more,” but word has it that he met with Hood last year to discuss his own inspiration for a fifth film.  So it looks like that 1% left a fairly huge chance.

What isn’t clear is whether Stallone returns or not, especially with The Expendables 2 and Bullet to the Head.  And just because a screenplay is submitted doesn’t really mean much these days.  There’s a small part of me that sees this headed towards Reboot Land.  The 65 year-old Stallone is obviously not a young man.  But if what Hood says holds true, that this could be Stallone’s Unforgiven, then that sort of premise is the only way I could see it work.  Otherwise, based on the less-than-stellar (read: it sounds God-awful) reviews so far for Conan, I don’t think anyone wants this guy anywhere near another beloved ass-kicker.