The German filmmaker told Latino Review that 20th Century Fox is keen to make a follow-up to the disaster movie, but has yet to make costly returning deals with himself, star Will Smith or producer Dean Devlin.
"Will wants to do it in some sort of a package they can live with," said Emmerich of Smith's pay cheque. "So it's just been in negations now since forever, and naturally Fox says 'why don't you do it without Will Smith?' I said Will is essential for us, for this movie and actually for the audience too."
Describing the project as being in "limbo", Emmerich added that he and producer Devlin have figured out a "very cool" sequel plotline to the 1996 box office hit.
> Video preview: Roland Emmerich's 2012