Current James Bond Daniel Craig has signed on to do four more 007 films, Hollywood studio MGM has revealed.

According to the Hollywood Reporter, MGM's chief executive and chairman Harry Sloan "signed Daniel Craig to do four more James Bond films" because franchises are "the bases of any studio".

However, it is not clear whether the number includes Bond 22 which has already been in pre-production for a December start.

The report says that the studio renegotiated Craig's fee for his first three films after the success of Casino Royale, which could make him pocket 30million pounds over the next decade.

If he sticks to the contract, he will be only one movie behind Sean Connery, who starred as Bond six times, and two behind Sir Roger Moore.

Pierce Brosnan signed on for a three-picture contract, with an option for a fourth, while Timothy Dalton made just two.

Daniel Craig’s second Bond film, the untitled Bond 22, is scheduled for a 2008 release, with Bond 23 expected in 2010.