Space Jam 2Deadline Hollywood is the only source reporting the news so far, and keep in mind it was only a few months ago that an Internet hoax led people to believe a sequel was in the works:

Broadcasting veteran Dick Ebersol’s sons have come on board to develop the sequel to 1996 animated/live-action hit Space Jam as a starring vehicle for James, the Miami Heat star who broke his nose during last night’s game against the Oklahoma City when the Thunder’s Serge Ibaka got him in the face after a dunk…

…Charlie Ebersol, who already has a good relationship with the NFL through his NFL Characters Unite series on USA Network, is about ready to do the same with the NBA. He has been brought on to the produce the picture through his production company, The Company, from a script by his brother Willie Ebersol. The latter won an Emmy for the London Olympics. This is his first screenplay.

As always, stay tuned…

UPDATE: So, a little bad news and possibly-not-as-bad news. ESPN’s Brian Windhorst reports that LeBron isn’t involved in any Space Jam project. However, that doesn’t mean Warner Brothers isn’t working on a Space Jam sequel. It’s quite possible that LeBron is the studio’s intended target — as he should be.

[Deadline]