"I am really excited about this project and the team that has come together. David Ayer (director) is incredibly talented and exactly what I want for a story this compelling," he said.
The storyline is about a raid that turns out to be an elaborate theft operation the squad had planned. After escaping with millions in stolen cash, the team believes their secret is safe, but one by one they are assassinated. Ten"has been penned by X-Men Origins: Wolverine writer Skip Woods.
The movie is one of the many projects of Schwarzenegger's since his term as Governor of California came to an end last year. The actor's blockbuster sequel The Expendables 2 is scheduled for release in August and is currently filming The Tomb. The action film actor also stars in The Last Stand, which will be released in January.