Billy Bob Thorton has made no secret that one of his favorite roles was 2003′s Bad Santa, so it should come as no surprise that The Weinstein Company and Miramax are trying to move forward with a sequel. Word from The Wrap is that the company is currently in negotiations with Thorton to reprise his role as the hard-drinking, sex-crazed mall Santa.

There is no word on Terry Zwigoff’s involvement yet, and he would seem to be the key player in this going forward. The film worked because of his skewed sensibilities, and though the film went through numerous cuts (there are three versions of the film available on home video, the theatrical cut, the exentend cut, and the director’s version), that seems the way with both the Weinsteins and comedies in general.

The original was also written by Glenn Ficarra and John Requa, who since went on to direct I Love You, Phillip Morris. Their involvement may be based on their ability to direct the film. The original film was a surprise hit in 2003, with it grossing $60 million domestically, and has aged into a cult classic that many trot out as their anti-Christmas Christmas movie.

There’s also no word on returning cast members, as Lauren Graham’s Santa groupie character and Brett Kelly’ damaged kid could hold over, but there’s no real reason to do so. At this early stage – there’s no script – everything is fair game, other than Thorton’s involvement.

Do you watch Bad Santa at Christmas?