People tend to assume that just because I'm not that smart and like action films I should be big into the Bad Boys series. But I'm not. At all. I'm totally sorry and ashamed if that's the vibe I'm putting out. Those movies (even the second one) are totally horrible.
We've been hearing about a possible third entry for some time now. Sony even ponied up for a writer last December. But nothing has really happened. And now we know why.
Collider got a juicy quote from Jerry Bruckheimer regarding the project and things don't look good:
It’s so funny because we’ll get Sony real excited to make the movie, and then Will [Smith] is off doing two movies. And then, Will will come back and be real excited about it, and Sony will say, ‘Well, maybe it’s not the time for this.’ And then, Ride Along came out and was a big hit, and now they’re all excited to make the movie, but Will is off doing something else. It’s just trying to get everybody together to make it. But, we’re working on the script. We have a lot of faith and hope that we’ll do it.
So they're basically playing phone tag with this movie. Every time one party's desperate enough to make it, another party is too embarrassed to get involved (slight editorializing). I do this with friends who casually destroy Cuba all the time.
Despite the finality of my article title, there is some hope for Bad Boys 3 so long as money works. But for now, it does not seem to be a thing we have to worry about too much.