It was rumored that the upcoming sequel, Bad Boys For Life, was in threat of being canceled as Will Smith entered negotiations for a human role in Disney's live-action version of its animated classic Dumbo, this time directed by Tim Burton. Will Smith was wanted as the father to 2 kids who befriend Dumbo. Smith never confirmed to take the role. Bad Boys 3 is bumped from January to November 2018. Many speculated Dumbo was responsible, however, that might not be the case.
It is claimed that Smith and Disney couldn't come to a settlement over his revenue. Disney has been pushing hard to set a release date, as they want production up and rolling soon. However, Smith simply could not clear his schedule, and the amount of money Disney was offering failed to offer an incentive to clear his work calendar.
Nevertheless, Disney hasn't set a production start date for Dumbo, setting them back as they look for another leading actor to replace him. Shooting is predicted to begin this summer.