Pirates of the Caribbean fans listen up, the sequel to the smash hit film series will be delayed confirms movie producer Jerry Bruckheimer.

Many have been waiting for Captain Jack Sparrow's return to the big screen after the success of the first four Pirates of the Caribbean movies. So when the announcement was made that a fifth installment to the movie franchise is slated to start production by next year, fans were very excited.

However, a recent report by The Hollywood Reporter reveals that the film will be delayed - not only with production but with its 2015-scheduled release as well.

Pirates of the Caribbean: Dead Men Tell No Tales will see Johnny Depp as the ever clever but cunning Pirate Captain and Lord of the Caribbean Sea. While the script has already been outlined, the film producer says it isn't "done" yet.

"We have an outline everyone loves but the script is not done," Bruckheimer told THR.

Notably, Disney Studios and Bruckheimer's last venture was a major flop. The report notes that The Lone Ranger, which also starred Depp, cost the team over $190 million in losses. With this, Bruckheimer admits that "everybody's more cautious" now with working on scripts and producing films.

"It's all a factor. We want a script that everyone's signed off on and a budget that everyone's signed off on."

However, Bruckheimer still has high hopes for the Pirates franchise, especially since the first four films have grossed over $3.7 billion worldwide. Moreover, according to BBC, Pirates of the Caribbean is the fifth biggest film franchise in history.

"With any movie, you're never confident. But it's a billion-dollar franchise," Bruckheimer told THR.

Pirates of the Caribbean: Dead Men Tell No Tales was initially scheduled for a July 2015 release, but may now be moved to summer 2016.