JJ Abrams Directing Star Wars?!?

After frequently denying rumors, it seems that JJ Abrams was not able to ignore the call from Disney to direct Star Wars: Episode VII. Multiple Hollywood websites are reporting that unnamed sources have confirmed that J.J. is either in negotiations or has signed the contract to direct the first film of the next set of Star Wars trilogies (with likely first dibs on doing all three if he chooses).

The script for the film is currently being written by Michael Arndt for a summer 2015 release date. If true that means that either Star Trek 3 will get pushed back until after Star Wars or more likely the directing reigns would be turned over to someone else with Abrams retaining executive producer credit. Assuming Abrams is able to get the kind of deal that Michael Bay got for Transformers (back end points, percentage of the movie and toy profits, etc.), he could make over $100 million from the first film alone, something that anyone would have a problem turning down regardless of their level of interest which is high with Abrams who said "Star Wars is one of my favorite movies of all time." Considering he wasn't even a fan of Star Trek when doing those two films, wonder what the result will be when it’s something he loves. Disney nor Abrams have yet to confirm or deny these rumors.