Tough guy Sylvester Stallone is anything but expendable!

The 'Rocky' actor is teaming up with 'The Transporter''s Jason Statham for the new action film 'The Expendables,' Variety reports, adding that martial arts star Jet Li is in final negotiations to join them.

Stallone, who penned the script, is also slated to direct the film, which follows mercenaries on a mission to overthrow a South American dictator, according to Variety. Shooting is set to begin in February in both Louisiana and Costa Rica.

For his newest film, the Italian Stallion has joined forces again with Nu Image/ Millennium Films who produced the latest 'Rambo' flick, which Stallone also directed and co-wrote.