After being attached to the project for just a few weeks, Charlie Hunnam announced earlier in the month that he was exiting the joint lead role of Christian Grey in the upcoming adaptation of Fifty Shades of Grey.

Universal and Focus have been looking for his replacement in the past two weeks, with Alexander Skarsgård, Jamie Dornan, and Billy Magnussen amongst the early names announced as potential replacements. And now Variety is reporting that the studios have found their new Christian Grey in Dornan, the Northern Irish actor best known for his work on Once Upon a Time and The Fall.

Dakota Johnson is still attached to lead opposite Dornan as Anastasia Steele, with Sam Taylor-Johnson (Nowhere Boy) in the director’s chair.

The film is of course adapting E.L. James’ incredibly successful novel of the same name. Courtesy of Amazon, here’s the synopsis for James’ original novel.

When literature student Anastasia Steele interviews successful entrepreneur Christian Grey, she finds him very attractive and deeply intimidating. Convinced that their meeting went badly, she tries to put him out of her mind – until he turns up at the store where she works part-time, and invites her out.

Unworldly and innocent, Ana is shocked to find she wants this man. And, when he warns her to keep her distance, it only makes her want him more.

But Grey is tormented by inner demons, and consumed by the need to control. As they embark on a passionate love affair, Ana discovers more about her own desires, as well as the dark secrets Grey keeps hidden away from public view.

Kelly Marcel penned the original script, and Patrick Marber (Closer) was recently brought in for a polish to reportedly work on the characters.

Fifty Shades of Grey should still be on track to meet its August 1st, 2014 release date, and if it’s done right, the potential for success here is astounding. The book has been one of the best-selling books in recent years, and since its budget doesn’t need to be particularly substantial, the profit ratio could well be enormous.