The ending of Spider-Man: No Way Home left Peter Parker more isolated than ever. While the world forgot Peter, we fans haven’t forgotten the foreshadowing. At Paranormal POV, we love a good theory that bridges the gap between science and the supernatural—and the most compelling theory for Spider-Man 4 involves Peter’s best friend, Ned Leeds.

As a kid who grew up watching the animated series, the Hobgoblin was always the more terrifying, mysterious counterpart to the Green Goblin. Now, the MCU has the perfect “vacuum” to finally bring him to the big screen.

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The Oscorp Vacuum

It’s been established that Oscorp does not exist in the MCU’s 616 universe. While some see this as a loss, it’s actually a massive opportunity. Without a Norman Osborn to hog the “Goblin” mantle, the stage is set for a fresh take on the Hobgoblin.

If there is no Oscorp to provide the tech, where does the villainy come from? The answer lies in the messy, magical aftermath of the Multiverse saga.

The Recipe for a Villain: Science Meets Sorcery

In the comics, Ned Leeds was famously brainwashed into being the Hobgoblin. For the MCU, we think the stakes should be even more personal. Here is how Ned could make the transformation:

• Residual Poison: When Norman Osborn (Green Goblin) entered the 616, he didn’t just leave behind wreckage. What if he left behind biological traces or “Goblin Formula” prototypes that found their way to Ned?
• The Magic Tax: We saw Ned open portals with zero training—a feat that usually takes sorcerers years. Doctor Strange often warns that “the bill comes due” for magic. Perhaps Ned’s untapped potential, combined with the “forgetting” spell, has left a dark, psychic void in his mind.
• The Doom Connection: A Hobgoblin who uses both high-tech gliders and genuine sorcery would be a powerhouse. While some might worry he’d be too similar to Doctor Doom, it actually serves as a perfect “ground-level” introduction to how a character can balance science and magic before Doom takes center stage in the Avengers.

Why This is a Win for Sony and Disney

From a business perspective, this move is a goldmine. The emotional weight of Peter having to fight his best friend—who has no memory of their bond—is the kind of high-stakes drama the MCU thrives on.

Furthermore, the merchandising potential is staggering. A magic-wielding, orange-cloaked Hobgoblin is a visual masterpiece that would sell out toy aisles and support the production of the entire next trilogy.

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What do you think, True Believers? Is Jacob Batalon ready to hop on the glider, or should Ned stay the “guy in the chair”?

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