The long awaited "Fifty Shades of Grey" movie has finally received a release date. The long anticipated raunchy film is set to hit theaters Friday, August 1, 2014.

The upcoming flick recently named director, Sam Taylor-Johnson for the film adaptation. Taylor-Johnson directed "Nowhere Boy" about John Lennon's childhood in Liverpool, England.

Author of the book E.L. James will produce the film alongside Michael De Luca and Dana Brunetti while Kelly Marcel has been named as the screenplay wrier, according to CBS News.

Focus Features is releasing the film domestically, while Universal Pictures will handle the international release of the flick with dates still to be determined. Universal and Focus acquired the rights to the "Fifty Shades" trilogy back in March of 2012.

In a recent statement, Taylor-Johnson said, "I'm so excited to be charged with the evolution of 'Fifty Shades of Grey' from page to screen.

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."

Since its release the "Fifty Shades" trilogy has been translated into over 50 languages worldwide and has sold more than 70 million copies making it one of the fastest-selling book series ever.

While no official casting has been announced man actors have been rumored to play the part of the sex crazed Christian Grey. Some fan favorites include Ian Somerhalder, Matt Bomer, Henry Cavill, Robert Pattinson, and Matt Davis.

The film will detail the explicit relationship between 27-year-old billionaire Christian Grey and naive college student Anastasia Steele.

Marcel revealed that in order to stay true to the novel an R rating will just not be enough, she said, "It will be rated NC-17."

According to CBS News earlier this year she told Entertainment Weekly, "It will be raunchy."

However, Universal has yet to confirm her quote as the told EW that the film still didn't have a ratings designation.

Who do you hope is casted in the "Fifty Shades of Grey" .movie? Leave us a comment below.