Rumors of a "Space Jam" sequel have been swirling around the internet for years, but we may finally be seeing the movie start to take shape. This thing appears to actually be happening.

The Hollywood Reporter announced Wednesday that LeBron James and his SpringHill Entertainment production company have landed Ryan Coogler to produce the second 'Space Jam' installment. Coogler has directed recent hits such as "Black Panther," "Creed" and "Fruitvale Station" -- all of which star Michael B. Jordan. (Just something to think about!)

"I loved his vision for 'Black Panther,' " LeBron told The Hollywood Reporter. "So for Ryan to be able to bring that to kids, it's amazing."

"The Space Jam collaboration is so much more than just me and the Looney Tunes getting together and doing this movie," says James, "It's so much bigger. I'd just love for kids to understand how empowered they can feel and how empowered they can be if they don't just give up on their dreams. And I think Ryan did that for a lot of people."

LeBron is set to star in the "Space Jam" sequel, meaning he'll take the reigns from Michael Jordan as the NBA lead sharing the court with animated Looney Tunes characters. Jordan starred in the original "Space Jam" in 1996, alongside a number of other NBA stars of the era; the MonStars team featured Muggsy Bogues, Larry Johnson, Charles Barkley, Patrick Ewing and Shawn Bradley. 

The sequel will be directed by Terence Nance, who most recently created and directed HBO's "Random Acts of Flyness."

SpringHill Entertainment appeared to officially announce the lineup with this teaser image on Wednesday.

It will be James' first starring role in a Hollywood film, though he's not exactly a newcomer to the acting scene. He received praise for his supporting role in the 2015 film "Trainwreck" starring Amy Schumer and Bill Hader.

Production on the "Space Jam" sequel is tentatively scheduled to begin in the summer of 2019. Filming will likely take place during the NBA offseason.