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The actor told Access Hollywood that he would not be interested in acting in a potential sequel to the film trilogy, but suggested a new instalment would have his blessing.
He said: "I don't want to be in it, but why not?"
Fox also suggested that the original Back To The Future movie will be always be well-remembered by fans.
"People love it. I think there will always be a place for the original film."
The actor and costar Christopher Lloyd recently reprised their Back To The Future roles at the 2010 Spike TV Scream Awards in honour of the trilogy's 25th anniversary.
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