Jude Law takes lead villainous in King Arthur franchise?

According to a report by Variety, Jude Law has taken the lead villainous role in the upcoming Guy Ritchie "King Arthur" franchise/cinematic universe. Also within the report, it is said that Idris Elba has dropped out of the project.

Law is joining fellow Brit Charlie Hunnam who has taken the titular role along with Astrid Berges-Frisbey who is said to be playing Guinevre. The film is set to release July, 2016.