Margot Robbie Says She's No Longer Making Her Female-Led Pirates of the Caribbean Spinoff

Samir Hussein/WireImage; Mary Evans/Walt Disney Pictures WALT DISNEY PICTURES / JERRY BRUCKHEIME/Ronald Grant/Everett Collection

Margot Robbie's Pirates of the Caribbean film is reportedly dead in the water.

More than two years after PEOPLE learned that the actress, 32, was set to star in a spinoff installment of Disney's popular adventure franchise, Robbie told Vanity Fair in its December 2022/January 2023 issue that the project is not in the works.

The Babylon actress said of the spinoff: "We had an idea and we were developing it for a while, ages ago, to have more of a female-led—not totally female-led, but just a different kind of story—which we thought would've been really cool, but I guess they don't want to do it."

A rep for the Walt Disney Company did not immediately respond to PEOPLE's request for comment.

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Gotham/WireImage Margot Robbie

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The Hollywood Reporter first shared the news that Robbie would star in a new Pirates film back in June 2020. The project would've seen her reuniting with Christina Hodson, the screenwriter for Birds of Prey, who was also set to write the Pirates spinoff.

The franchise has accumulated over $4.5 billion for Disney beginning with 2003's Pirates of the Caribbean: The Curse of the Black Pearl.

Multiple sequels followed the blockbuster hit, such as 2006's Pirates of the Caribbean: Dead Man's Chest, 2007's Pirates of the Caribbean: At World's End, 2011's Pirates of the Caribbean: On Stranger Tides and 2017's Pirates of the Caribbean: Dead Men Tell No Tales.

All the films starred Johnny Depp as the swashbuckling Captain Jack Sparrow, with Orlando Bloom, Keira Knightley, Geoffrey Rush, Javier Bardem and Penélope Cruz costarring in the franchise.

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And fans of Depp, 59, might also have to wait a bit longer — or indefinitely — to see him don the kooky Captain Jack's hat once more.

A rep for Depp told PEOPLE in June that a report claiming the actor is returning to the Pirates of the Caribbean franchise for a payday of over $300 million is "false."

The saga's producer Jerry Bruckheimer told U.K. outlet The Times in an interview published the previous month (while Depp was in court for his defamation trial against ex-wife Amber Heard) that his team was working on "two Pirates scripts — one with [Robbie], one without."

As for Depp potentially being involved, Bruckheimer, 79, said, "Not at this point" — but "the future is yet to be decided."