The Fifty Shades of Grey movie finally has a release date. Dana Burnetti, the film’s producer, announced on Thursday that the movie adaptation of the best-selling novel will hit theaters Aug. 1, 2014.

The novel, written by E.L. James, will be adapted for the big screen by screenwriter Kelly Marcel. It was announced last week that director Sam Taylor-Johnson was tapped to helm the much-anticipated project.

When Taylor-Johnson announced her coup, she said in a statement, “I am excited to be charged with the evolution of Fifty Shades of Grey from page to screen," she wrote. "For the legions of fans, I want to say that I will honor the power of Erika’s book and the characters of Christian and Anastasia. They are under my skin too.”

Although Taylor-Johnson hasn’t stated how racy she plans to make the film, Marcel is hoping the film will fetch an NC-17 rating. We are 100 percent going there,” Marcel told The Sunday Times in January. “It will be rated NC-17. It will be raunchy.”

Fifty Shades of Grey, which will be the adaptation of the first book of James' trilogy, explores the beginnings of a sexual relationship between the wealthy entrepreneur Christian Grey and student Anastasia Grey. No actors have been cast for the film, though Matt Bomer and Alexis Bledel are current favorites for the leading roles.

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