Now Playing Magazine talked to Sam Raimi who confirmed that a villain for Spider-Man 3 has been settled on. Here’s a clip from the interview:
“We wanted to have a villain not only who would fulfill the character needs but somebody who could entertain the audience on a visceral level and provide great visuals, something we haven’t seen before, and create a real challenge and great foe for Spider-Man and his unique spidery, spider-like powers.”
He added that Alvin Sargent is writing the screenplay right now. For more on how the villain will likely be revealed, and how Raimi and his brother Ivan decided on the villain, hit the link above.