He is currently in negotiations with 20th Century Fox and producers Tony and Ridley Scott to appear in the movie about four war veterans who escape from a prison to become vigilantes.
The roles of Captain 'Howling Mad' Murdock and Sergeant 'BA' Baracus have yet to be cast, but rapper-turned-actor Common is rumoured to be in the running for Mr.T's iconic role.
Production for the film is due to begin in late August for release next year, according to Daily Variety.
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