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From expendablespremiere, Take this with a grain of salt for now everyone... 
But, our friends over at the official Italian fan site for Sly Stallone tell us that their sources are reporting Expendables 4 has the green light and that Steven Seagal is close to signing on as the main antagonist of the picture! They also go on to state that the producers are hoping to bring Jackie Chan in for a minor role. Lastly, they have already began discussing shooting locations with Lerner wanting to return to Bulgaria for economic reasons and Sly wanting to shoot in a tropical country such as Mexico or Cuba.
We really hate reporting on rumors, but we trust the staff at Slyitalian.com, so lets all hope this turns out to be true!!