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'It is currently looking to be a three-picture deal with the option of a fourth.
'They have done all the fittings, they have the haircut they have in mind for him, and he's already in tremendous shape.
'Barbara Broccoli and the rest of the producers are going to make a huge deal out of the announcement.'
According to the insider, an event will be held where the remaining living Bonds – including George Lazenby, 84, Timothy Dalton, 78, Pierce Brosnan, 70, and Daniel, 56 – will be asked to attend to pass on the torch.
'They all want this to be one of the biggest announcements ever and are looking to start filming sometime next year to get a movie out in theaters by 2026,' they said.
On top of going all out for the hotly anticipated official cast announcement, Bond execs are also hoping to take the beloved franchise into a new genre.
The insider added: 'They would like it to be a little more of a fantasy, with interesting and iconic bad guys and over the top action and not as real as Daniel Craig's films were.
'They are looking to steer it more towards the Pierce Brosnan films in terms of tone and referencing Bond's past that people loved, but still incorporating moments to move the films forward.