Where the hell is Predator 3?

I just registered so if any body posted something about Predator 3 back in time just bear with me.
About a year and a half after the second film, Arnold was approached abou doing a third Predator. He told reporters that he was interested if they had the same team from the first. Does anybody remember that interview?
Anyway, a little while after that rumors circulated that Predator 3 was slowly heading towards a green light. Last month my friend said he read on a movie site that after production on T3, Arnie would read the script for P3.I told him to show me that site but the article was removed.
I think Predator 3 would rake in cash and bust the box office wide open.
Your thoughts.

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Most wanted movies: The Matrix Reloaded, The Matrix Revolutions, Reign of Fire, Austin Powers 3, New OO7 movie, Terminator 3, Zu Warriors, The Accidental Spy.

Well, since Predator 2 was a box office disaster, I doubt they would risk making a third one.

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"I was walking down the street with my friend and he said, "I hear music", as if there is any other way you can take it in. You're not special, that's how I receive it too. I tried to taste it but it did not work." - Mitch Hedberg

But if Arnold's in it, it'll be a success. Especially with the same team from the first.

Arnold has a few projects lined up though. And I doubt, that after they are done, he'll want to still be doing movies. I mean the guy is already in his 60's. Westworld, and another Conan movie are two projects he'll be doing after T3.

As far as getting the same team from the first Predator back, I'm assuming that you mean director and the production team because his "team" in the movie is

Arnold is in his 60's??
I didn't mean his team from the movie. Director, production team.

Oh wait...that's Sly...Arnold is getting close, he's already in his 50's...alright. I made a tiny mistake, not as big a mistake as the company that even thinks about making this movie.