Years back when the Tron sequel hit, the movie didn't quite do the numbers that Disney had expected. Coming decades after the original movie, interest wasn't quite as high as they had expected and the movie didn't perform as well as they hoped. Off the sequel, Disney hosted an animated series but the franchise seemed to die off over time while little discussions happened over a potential third movie. Now, word just broke via ScreenRant and other movie sites that the next movie in the Tron series is back on at Disney and that Jared Leto is signed on to star as the new central character.
Back in 2015, the movie was called Tron:Ascension but was ultimately canned by Disney. The star of the Tron:Legacy, Garrett Hedlund claimed that the movie was pulled from development due to the financial failures of the live action Tomorrowland starring George Clooney. Disney executive Mitchell Lieb has confirmed that the project is back in development and Leto will lead a third movie which has no synopsis or other details at this time. We'll keep updating as we hear more about Tron 3.
This seems like it wouldn't really fit in Leto's wheelhouse of roles, but he seems to be taking more mainstream movies as of late with projects like Morbius based on the Marvel character being released sometime in the near future when the pandemic finally ends.
Lieb had this to say about a third Tron:
"Whereas the timing wasn’t right to do it years ago, I think we feel the timing is right now. We learned a lot of lessons from that last movie."
-CG