"Boardwalk Empire" creator and "The Wolf Of Wall Street" scribe Terence Winter is writing the screenplay.
Tyson's manager Rick Yorn is producing the film.
No distributor is onboard.
Michael Jai White starred as Tyson in a 1995 HBO telemovie, and James Toback directed the documentary "Tyson" in 2009. This would be the first feature-length biopic about his life.
It isn't known what part of the boxer's life it will cover though, from his mid-1980s success as the world's undisputed heavyweight champion, to his downfall in the 1990s including his rape conviction, his imprisonment and his infamous return during which he bit a part of Evander Evander Holyfield's ear off with his teeth.
Tyson tells The Daily Mirror that they will use "The Curious Case of Benjamin Button"-style computer effects to allow Foxx to portray the younger version of Tyson in the past scenes while Foxx (who is around Tyson's age) could play him in present day scenes.
Since retiring in 2005, Tyson has cameoed in The Hangover films, did a one man show called Mike Tyson: Undisputed Truth and most recently stars as a cartoon detective on the upcoming TV show Mike Tyson Mysteries for Adult Swim.
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