This is a huge rumour, and contrary to the previous news about the sequel to Bubba Ho-Tep, Bubba Nosferatu. It appears though that the Director has stated that it's on his schedule! That's a change from it actually having no budget.

From Twitch:

...in a recent Fangoria article...Coscarelli stated that he would be happy to join "the second season of MASTERS OF HORROR as long as the planned sequel BUBBA NOSFERATU doesnt get in the way. The goal is to have more of the young Elvis because Bruce Campbell loves playing that age with his Memphis Mafia and NOSFERATU will provide lots of opportunities for them getting into mischief. And theres nothing better than seeing a legendary actor play with a prosthetic!"

Wooo. Now as Todd rightly points out he's talking here about turning down a guaranteed paying job, the second series of the Masters of Horror, the series that all the big names are attracted to, for the planned Bubba Nosferatu movie. Previously we were being told no chance as the budget was gone, but now he's saying that it is in his schedule.

This is damn close to an admission of production if ever I've heard one. So here's to next year, I'm excited already!