The Spider-Man director and the Iron Man star are teaming up for Disney's Wizard of Oz prequel, Oz: The Great and Powerful.

In the no-longer-the-Spider-Man-man fallout, Raimi has been swinging from project to potential project, from The Shadow to a 20,000 Leagues Under the Sea remake. But according to Nikki Finke at Deadline Hollywood, last night Disney locked him in to shoot Oz: The Great and Powerful with Robert Downey Jr. as the star.

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Downey will play the Wizard of Oz before he became the Wizard of Oz circa the 1939 iconic film: he's in fact a circus wrangler transported by tornado to the mysterious world of Oz where he gets mistaken for a know-it-all.

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Disney's got their eye on an Alice in Wonderland-size hit — I just wanna see Raimi off the bench.

(Via Deadline Hollywood)