Sylvester Stallone is considering scripts for further sequels in his ‘Rocky’ and ‘Rambo’ franchises, despite vowing never to revive either of the legendary characters again.

The action star has signed a multimillion dollar deal to direct and star in two new action films, which may feature his two best known characters.

The actor will again link-up with 'Rambo' producers Danny Dimbort, Avi Lerner and Trevor Short of Nu Image/Millennium Films following the success of his recent films 'John Rambo' and 'Rocky Balboa'.

He told the Hollywood Reporter: "The past year and a half of working with Avi, his partners Danny and Trevor and his film family has been nothing but a high point for me and my career and an extremely rewarding experience. Avi is a real gentleman and a man of his word."

Stallone's 2006 film 'Rocky Balboa' grossed $70m, while the fourth instalment in the 'Rambo' franchise took $18.2m in its opening weekend in the US last month.

The 61-year-old is also separately working on a remake of the 1974 vigilante drama 'Death Wish'.