Earlier this afternoon, Marvel sent out a press release officially announcing not only Jon Favreau's involvement as director on Iron Man 2 and executive producer on The Avengers, but also that as part of his four-picture deal, Robert Downey Jr. will indeed reprise the role of Tony Stark (aka Iron Man) in both Iron Man 2 (due out on May 7, 2010) and The Avengers movie due out July, 2011.
As far as The Avengers goes, here's the brief snippet included in the press release: "In a movie event, THE AVENGERS will bring together the super hero team of Marvel Comics characters for the first time ever, including Iron Man, Captain America, Thor, the Hulk and more, as they are forced to band together to battle the biggest foe they've ever faced." No director has been announced yet for that film, and Marvel did not say whether Edward Norton would reprise his role as well, though it's nice to see Favreau involved in some capacity. Of course, the presence of Downey Jr. will definitely do wonders for both Iron Man 2 and The Avengers ... and one imagines that fourth film would be Iron Man 3. The press release also goes on to officially announce the casting of Don Cheadle as Rhodey in Iron Man 2. Check out the full release after the jump.
What say you? Who should direct The Avengers now that Favreau is definitely out of the running?