THE chances of former Bolton schoolboy Sir Ian McKellen reprising his big screen role as bearded wizard Gandalf have been vastly increased after the resolution of a legal wrangle.

New Line Cinema, the studio which made The Lord of the Rings movies, wants to make a prequel based on JRR Tolkien’s earlier work, The Hobbit.

The project has been mired in legal complications, however, because Tolkien’s heirs claimed they were owed money by New Line.

The dispute has now been resolved, and Sir Ian has already stated that he would like to return to the role of Gandalf.

Guillermo del Toro has been lined up to direct the movie.

Speaking last year, Sir Ian said: “Obviously, it’s not a part that you turn down. I loved playing Gandalf.”