The film will tell the true story of Walt and Art Arfons, half-brothers and race track rivals who set aside their differences and teamed up to set the world land speed record. With a jet-powered race car on the Utah Salt Flats, they broke the record...three times.
"The Bourne Legacy" co-scribe Dan Gilroy is writing the screenplay.
Reynolds and Favreau will also produce the film with Mark Ciardi, Gordon Gray, Jonathon Komack Martin, and Jennifer Fox.
Favreau is currently prepping the big screen adaptation of the Award-winning Broadway musical "Jersey Boys" and the hope is that he will do this immediately after he is done.
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