Flay Day, Sean Penn’s latest drama, has been sold to MGM for the North American rights just weeks ahead of its world premiere at the Cannes Film Festival in July. Not only did Penn direct the film, but he also starred in the drama with his daughter Dylan Penn.

Flay Day is based on Jennifer Vogel’s acclaimed memoir Flim-Flam Man: The True Story of My Father’s Counterfeit Life, which chronicles the author’s challenging relationship with her con-man father, John Vogel. Dylan Penn will play the daughter and Sean Penn as the father.

In 1991, his directorial debut, an MGM film The Indian Runner, had its global premiere on the Croisette. Penn also won Best Actor at Cannes in 1997 for his performance in She’s So Lovely, a film written by the late John Cassavetes. Flag Day marks Penn’s 30th anniversary at Cannes.

“I’m particularly grateful that our film has been embraced by MGM. Mike DeLuca and his team are among the last true believers that, along with the advent of streaming, there remains a theatrical value to character driven films. I’ve known & admired Mike for many years, and there’s no one I’d rather throw the dice with,” said Sean Penn in a statement regarding the buy of his film.

Later this year, Flag Day will have its theatrical release.