Spider-Man: Brand New Day might have laid the groundwork for Ned Leeds to finally become Hobgoblin. Peter Parker's best friend in Marvel Comics has classically been Harry Osborn, son of the Green Goblin himself, Norman Osborn. But Marvel Studios has been determined to reinvent the web-slinging mythos by giving Peter a brand new bestie since Spider-Man: Homecoming in Jacob Batalon's Ned Leeds. Those familiar with Marvel Comics know that Leeds is a Daily Bugle reporter who is brainwashed into becoming Hobgoblin by the man most famously under the mask, Roderick Kingsley, to hide his real identity.
Spider-Man: Brand New Day subtly introduced a unique narrative for Ned Leeds through Sharkfire Energy, a fictional energy drink that promises to give the drinker "the fire of a thousand sharks." It's clear that Ned has developed some degree of addiction to the highly caffeinated drink, asking a bodega shopkeeper to ban him from buying it. He mentions that "all [his] friends were drinking them during finals" and how "that stuff will kill you," but proceeds to buy two cans anyway.
After he takes the cans to a party, Zendaya's MJ lifts it off him "again," implying that this has happened before, and makes it clear to her boyfriend (who is secretly a major Marvel Comics character) that she is worried about him. The moment is a rather strange one could be a subtle commentary on addiction in college-aged young people, or a major step toward Ned becoming Hobgoblin.
Roderick Kingsley originally turned Ned Leeds into his disposable Hobgoblin stand-in by abducting him and brainwashing him by a device. However, now that the MCU's Spider-Man saga is exploring adult characters and tales after Brand New Day was ultimately a story about growing up, Ned could become a vehicle for an addiction tragedy, in which something in these drinks is changing him.
Alternatively, having been a devoted fan of Spider-Man for so long, it stands to reason that Ned could form heroic desires of his own. The revelation of his addictive personality could lead him to replace Sharkfire Energy with something stronger down the line, such as an MCU version of the Goblin Formula, which he undeniably has the intellect to create, even if it goes deathly wrong.
A recent Marvel Comics retcon to synergize with Ned's use of magic via a Sling Ring in No Way Home established that during his time as Hobgoblin, he trained under Baron Mordo in reality-altering chaos magic. Marvel Studios could re-explore Ned's magical talent from No Way Home, blending spells with remnants of Green Goblin's technology that were left behind in the MCU.
Spider-Man: No Way Home's official art book confirmed that there was an "early idea" for Ned to board Willem Dafoe's Green Goblin Glider in the final battle as a "nice bit of fan service" to his Hobgoblin history in the comics. Concept artist Nick Saunders designed the unused moment that pictured Ned atop the glider and holding a pumpkin bomb while wearing an orange and blue New York Mets jersey to pay homage to the Hobgoblin's famous colors:
“This was an early idea proposed where Ned gets a shot at riding the Goblin Glider during the final battle, a nice bit of fan service given Ned’s ultimate turn in the comic book universe.”
Batalon recently told Gold House that he would be "open to the idea" of becoming Hobgoblin in the future, adding that he "genuinely thought he was going to be the bad guy in the third movie," which became No Way Home.
In a way, No Way Home set the stage for Ned's villainous twist, as he said, "Peter, I promise you, I won't turn into a supervillain and try to kill you." It's safe to say that learning the evil turn that Harry Osborn took in Tobey Maguire and Andrew Garfield's Spider-Man universes had him worried that he may be next.
Why Hobgoblin Is the Perfect Villain for Spider-Man 5
Peter Parker's storyline in Spider-Man: Brand New Day was driven heavily by his longing to get MJ back and how much he has missed her since No Way Home. That makes the inevitable Spider-Man 5 the perfect time to dive deeper into his brotherly bond with Ned Leeds, who was grossly underutilized and overlooked in Brand New Day, by finally telling the Hobgoblin storyline.
At this point, it's tough to visualize any kind of natural progression for Ned to become a villain, unless he was manipulated by an external force or his own experimentation gone wrong. Marvel Studios is known to take liberties with comic storylines, especially in its Spider-Man movies, so if Ned does become Hobgoblin, it's tough to imagine it happening anything like the classic comics.
Batalon has been stirring Hobgoblin speculation for years, between sharing images on Instagram and directly expressing his interest in the notion. However, even if Marvel Studios is interested to going down that rabbit hole, they may be eager to put Hobgoblin off and use it as the end point for Ned's storyline.
But for now, audiences can take some sollice in the fact that Peter and Ned seem to be on track to rekindling their friendship after that heartwarming handshake in the final moments of Brand New Day, even if it does prove short-lived.
