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Next year, The Monster Squad will celebrate its 30th anniversary, nards and all. And with anniversaries come thoughts of how to celebrate the legacy of whatever series that you're celebrating. In Shane Black's mind, a remake of the original film would be a good way to do just that, but he hasn't put a sequel out of his mind just yet. In fact, if we're interpreting his thoughts correctly, the only way a sequel would work would be to go ahead with a remake anyway.
Black was recently interviewed by IGN, and their talk soon turned to previous remarks The Nice Guys writer/director had made about remaking the 1987 original. When asking why a sequel wasn't in the picture, Shane Black played what could be the most profitable games of "Yes, and" in recent history. Not only did agree a sequel would be interesting, but it sounds like he still wants his remake project, as he laid out the following scenario:
Not surprisingly, Shane Black cited Stephen King's It as his inspiration, stating that should he make a sequel with the members of The Monster Squad all grown up, the concept of the kids returning to their home town to fight evil yet again would be an inescapable comparison. Of course, should Black make that concept into a sequel, you can bet he'd distance his version from any version of It by using the trademark brand of humor and thrills that made the original so successful in the years after its release.
Considering Andres Muschetti's remake of It and Netflix's Stranger Things are finding themselves fortunate for such a resurgence in 1980's nostalgia, there's absolutely no reason that The Monster Squad shouldn't enjoy a piece of the action itself. Come to think of it, now's probably the best time for Shane Black to pitch his remake / sequel duology to any studio that has or wants the rights to the 80's classic. While the possibility of rebooting any classic film is daunting, having an original creator of the content involved goes along way to make it seem like a better idea. Though it's a cult classic, it wouldn't automatically be a bad idea to revamp the source, before moving into the future.
For now, this is all speculation, as the most concrete Shane Black projects at the moment are The Nice Guys, which is currently available on Digital HD and will be on Blu-ray and DVD next Tuesday, as well as Doc Savage, which is currently in its early phases.