Earlier on Tuesday, The Hollywood Reporter revealed that LeBron James' SpringHill Entertainment will produce a new installment of the House Party movie franchise. But perhaps the even bigger piece of James-related film news is that the highly anticipated Space Jam 2 is still "a ways off."

Those were the words used by James' friend, business partner and fellow SpringHill Entertainment co-founder Maverick Carter in The Hollywood Reporter piece announcing the House Party relaunch. In 2016, The Hollywood Reporter reported that Justin Lin had signed on to direct and co-write the sequel to the popular 1996 hit, which starred basketball legend Michael Jordan.

James had long been rumored to fill Jordan's Space Jam sneakers, but traction on a sequel picked up steam when Warner Bros. formed a content creation partnership with SpringHill Entertainment in 2015. An IMDB.com page for Space Jam 2 already exists -- and lists James as its star -- although its status remains in the 'script' stage.

Last August, Lin spoke to IGN.com about the logistical challenges that exist with a film that would feature active athletes such as James. "I feel like I’ve gone done nine different iterations already and we’re going to keep going," Lin said. "But we’re getting closer every day.”

That day, however, doesn't appear to be near, as James has limited his Hollywood resume to producer status since appearing in the 2015 comedy Trainwreck. So while demand for a Space Jam sequel remains at an all-time high, don't count on seeing James teaming up with Bugs Bunny anytime soon.