Screenwriter Potsy Ponciroli has revealed that a script for a Goonies sequel exists, with more drafts on the way, Deadline reports.

Released in 1985, the original The Goonies follows a ragtag band of kids in Astoria, Oregon, who go in search of a lost pirate treasure to save their homes from being foreclosed by a slimy real estate company, encountering a family of criminals, booby traps, and a huge but friendly ally called Sloth along the way.

Directed by Richard Donner, the film was a box office success, grossing $64 million worldwide. A Goonies 2 had been floated on and off over the years, but nothing came to fruition before Donner’s death in 2021.

Now, months after an official announcement that a sequel was in development, Ponciroli gave an update about the script at the Venice Film Festival, saying,

I have turned in a first draft, which was very well received, and I’m on a second draft, and I’m about 95% done with that, so we’re moving in the right direction.

While there is skepticism about the project, including from original Goonies star, Josh Brolin, Ponciroli shared his excitement and some reassurance:

I know there’s a lot of ‘do we need a new Goonies,’ but I’m the biggest fan of the original. It’s my favorite movie of all time. I’d never ‘redo’ The Goonies. To me, it was a story that never ended, so this is the movie I want to see as one of its biggest fans.

The Goonies sequel will be produced by Steven Spielberg, returning from the original, and Chris Columbus, who wrote the original.

A director has yet to be announced.