Earlier tonight, the usually-reliable entertainment trade Deadline reported that the project was in development, written and produced by Willie and Charlie Ebersol, the sons of broadcasting legend Dick Ebersol.
The story immediately went viral on Twitter and Facebook, and "LeBron James," "Space Jam" and "Looney Tunes" have been trending on and off all night.
But, according to sources close to the Miami Heat star, he's not involved in the production.
Well it was fun while it lasted. LeBron sources refute Deadline report, there's no Space Jam 2 or Warner Bros. project in works
— Brian Windhorst (@WindhorstESPN) February 22, 2014
Sources close to LeBron James say he is not involved in reported production of "Space Jam 2." Development of film was reported by @Deadline.Perhaps they're developing it with him in mind, but no deal in place? If so, it seems likely that tonight's events may queer any potential relationship they could have had with James.
— SportsCenter (@SportsCenter) February 22, 2014
Meanwhile, Charlie Ebersol had a tweet of his own, seemingly confirming the Deadline report.
A childhood dream comes true. http://t.co/4szXK1BC8c #dreambig
— Charlie Ebersol (@CharlieEbersol) February 22, 2014