A Director's Cut was released on DVD in North America on June 1st, 2004. The runtime of the film is approximately 8 minutes longer at around 165 minutes, but the changes are more significant than it seems: Director Michael Mann deleted about 5 minutes of footage and put 14 minutes of new material in.
Michael Mann announced in an interview with Steve Weintraub (on January 16, 2015 for 'Collider') that he is planning to release a third version of "Ali" on BluRay: "I did a re-edit of Ali for television that I really liked and I'd like to put out a Blu-ray of that edit. That was a significant re-edit. (...) It happens to move better and it's longer. (...) It's more complete and moves better. Much more dramatic."