Just yesterday we heard about the uncertain future of the James Bond franchise, and within 24 hours the tide has changed. According to the Heat Vision blog, the next film is being fast tracked into production and has taken on an Oscar winning director. Close sources are stating that Sam Mendes has just been tapped to helm the latest Bond installment.

Sam Mendes is in negotiations to take on the next Bond film, which will have Daniel Craig reprising his role as 007. Plans for the film are moving forward despite the monetary issues that MGM has been having as of late. The studio is currently up for sale and awaiting purchase, which fueled rumors that Bond’s future was in danger. The latest news from the trades state that Mendes will take on the latest film that’s being scheduled for a 2011 release.

The screenplay will be written by Bond regulars Neal Purvis and Robert Wade, along with Peter Morgan who penned Frost/Nixon. This will be the director’s first major action flick besides his 2005 film, Jarhead. He’s coming off the mellow project Away We Go, which only grossed about 10 million dollars domestically last year. This is a major move on the studio’s part, because MGM’s future is still up in the air. The only thing we know, is no matter who produces the next Bond movie it will be a hit. There’s a reason it’s one of the longest running franchises of all time.

What do you think about Sam Mendes directing the next James Bond movie?