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Usually made just to make bank at the box office, movie sequels can often be hit or miss. There are cases where some really stand out and make sense. We can only hope the same thing will happen for Space Jam 2. 

According to The Hollywood Reporter, the sequel is getting the green light and will have Cleveland Cavaliers forward LeBron James as the film's main star:

Justin Lin and Andrew Dodge are ready to shoot some intergalactic hoops with LeBron James.

The Fast & Furious 6 and Star Trek Beyond helmer is in talks to direct Warner Bros.' sequel Space Jam 2 while Dodge will write.

Rumors of a follow-up to the live action/animated 1996 hit have been brewing for years, and picked up again when James and his company SpringHill Entertainment signed a deal with Warner Bros. in July. The Cleveland Cavaliers NBA player, who recently appeared in Amy Schumer comedy Trainwreck, will star in Space Jam 2. He's repped by WME.

Sources say it's early on the in the process but that Lin and Dodge are working on the script. Charles Ebersol is producing.

Despite this report, ESPN's Brian Windhorst reports that James has not officially signed a deal to star in the movie:

If Space Jam 2 is anything similar to the first movie, then we should see a cast other NBA players featured in the film. Space Jam featured Shawn Bradley, Larry Johnson, Muggsy Bogues, Charles Barkley and Patrick Ewing -- a rather huge lineup with a tiny point guard. If that's the case again in the sequel (contrary to how the game has evolved to embrace smaller lineups) and with LeBron having a hand in the casting, than here's who could potentially be in the movie:

Blake Griffin: The Clippers forward should be a virtual lock to be in the movie. Especially since Griffin already said he wants to be in it. With his deadpan voice and understated flair for the theatrics, Griffin has shown in numerous commercials that he is a fine comedic actor. He also appeared in a Jordan Brand commercial with Marvin the Martian, a Looney Tunes character, so he has experience sharing the screen with cartoons. Griffin is also a sensational dunker which should play well on the big screen. 

Kyrie Irving: While Irving is not the smallest guard in the league, he plays with James, and is a Nike athlete (like LeBron) and is one of the best ball handlers in the league. This may be a nepotism pick but Irving's Uncle Drew commercials are a delight and he could likely be equally delightful in Space Jam 2 if chosen.

Carmelo Anthony: Melo may seem like a odd choice but he is an elite scorer and perhaps more importantly plays for the Knicks. Remember this is a movie, and not an actual basketball team. Warner Bros. wants to sell tickets and merchandise, which is their main goal with the movie. The Knicks are one of the most popular franchises in the NBA, and to not include Anthony would seem like a huge disadvantage monetarily. Plus Anthony is LeBron's good friend and has some experience acting both on television and in the upcoming Teenage Mutant Ninja Turtles sequel. Melo also has the Warner Bros. logo tattooed on his left upper chest, this is actually a homage to his hometown of West Baltimore but it now serves a dual purpose.

DeMarcus Cousins: The villainous Monstars of Space Jam were brash and physical. Seems like a perfect role for the Kings center, who often plays like a Monstar in real life. Cousins' nickname (Boogie) also sounds like a fitting name for a Monstar.

Tristan Thompson: The Cavs big man is a solid defender and rebounder, making him a fine candidate for the Shawn Bradley role in the film. Thompson might not be a shot blocker but he is a Nike athlete, plays for the Cavs, is good friends with James and is repped by Rich Paul, LeBron's agent. Nepotism strikes again. 

I know what you're thinking: what, no Stephen Curry? He's an easy omission. There's no way James will allow Curry, one of the biggest stars in the NBA, to co-star in this movie with him. That will totally take away from LeBron's star power and diminish his lead role.

While it's exciting about the news that Space Jam 2 is actually happening, it's important to note that The Hollywood Reporter says the movie is "early on in the process," which is industry speak for this could take a very long time to get made. So until we get an actual release date, we will have to just wait in anticipation and hope that Space Jam 2 isn't a disaster of a sequel.

LeBron can't believe he didn't have to audition for Space Jam 2.
LeBron can't believe he didn't have to audition for 'Space Jam 2.' (USATSI)