James and Maverick Carter's SpringHill Entertainment is responsible for the project, and while Carter would love to have Jordan on board in some capacity he knows it might not happen.
"We'll see," Carter told THR, "Hopefully there will be a role for Michael if he wants it. But Michael Jordan is Michael F*****' Jordan. It doesn't matter [if James] calls him, he's gonna do whatever the hell he wants, which he has earned that right to do." And then he adds: "LeBron and Michael are not sitting around talking about Space Jam."
Carter also gave a bit more insight into the project's premise, which he says is not building a sequel to the original but more of a reboot to launch a franchise of its own. "There's already been one that was good, we gotta make a film that's great," Carter said.
James has wanted to do this for quite some time, and now he finally has his chance.
"I've been hearing about Space Jam 2 since I was 16," James said, adding that he's "humbled" to be in the Jordan role for Space Jam 2. "He was the greatest thing I'd ever seen."
"I always wanted to be a superhero. Batman was my favorite," James said. "But I knew I could never be Bruce Wayne. You've got to understand, for me that was in no way possible; I never felt like I could be the president of a multibillion-dollar company."
James will follow-up his well-received performance in Trainwreck with this project, while Coogler is coming off the $1 billion-plus success that was Black Panther (he's also helmed Creed 2 since then). James couldn't be happier to have him involved with the Space Jam sequel.
"[Coogler] gave this generation's kids something I didn't have when I was a kid," says James, "and that's a superhero movie with an African-American cast."
Space Jam 2 has a pretty high bar to live up to, as the original still holds the high mark in box office for a basketball movie, bringing in $250 million. Hopes are high that the new film can greatly exceed that milestone, but we'll have to wait and see.
Terence Nance will actually be directing the new project, and it is expected to start shooting sometime in 2019.