The 50-year-old actor would play one of The Ravagers, whose leader Yondu Udonta reportedly would leave his thieving group and join the guardians, reported Aceshowbiz.
The Ravagers is an interstellar group of thieves led by Yondu Udonta, played by Michael Rooker.
Flanagan's character reportedly would be Yondu's right hand man. The first film had Sean Gunn playing Kraglin aka Yondu's wingman. It is unclear whether the report is false, or Yondu got himself a new sidekick.
The second volume of the highly-successful superhero movie will continue the team's adventures as they unravel the mystery of Peter Quill's true parentage.
Principal photography already began at Pinewood Studios in Atlanta on Wednesday, February 24. James Gunn is back as director and writer of the pic, which is set to bow on theatrEs May 5, 2017 in the US.