Will Ferrell Reprising Role of Mugatu in 'Zoolander 2'!

This is amazing news – Will Ferrell just all but confirmed that Zoolander 2 is moving forward and that his fan favorite role of Mugatu is involved.

The 47-year-old actor played the role of Mugatu, a famed designer and also the “bag guy”, in the original who befriends Derek Zoolander in order to brainwash him.

“We are actually supposed to do a read-through of a sequel script soon, and Mugatu is a part of it,” Will told joblo last week about the upcoming flick.

Justin Theroux is set to direct, with Ben Stiller and Owen Wilson returning as well.

ARE YOU EXCITED for Zoolander 2???