Deadpool 2 and Hobbs & Shaw director David Leitch’s new film, Fast & Loose, which is set to star Will Smith, has become the subject of a major bidding war that’s currently underway. The script comes from The Meg and Red writers Jon and Eric Hoeber.

The film’s logline reads: After the leader of an upper-echelon criminal organization suffers memory loss from an attack, he reunites with his crew, only to find that things aren’t what he thinks they are. When John Riley (Smith) wakes up in Tijuana after being left for dead with absolutely no memory, he follows a string of clues to uncover his identity discovering he’s been living two different lives: one, as a super-successful crime kingpin, surrounded by beautiful women, expensive toys, and a lavish lifestyle and the other as an undercover CIA agent, but with a puny salary, no family or home life whatsoever, and zero trappings of success. The problem is, he can’t remember which of these two personas is his true identity, and, more importantly, which life he really wants to live.

Almost every major studio and some streamers are involved in the ongoing bidding war for the project, which was originally developed by STXfilms. Leitch will produce with Kelly McCormick for 87North, and Smith, Jon Mone and James Lassiter will produce for Westbrook Studios.

Both Leitch and Smith are busy with upcoming projects. Smith is set to star in a remake of John Hughes Planes, Trains & Automobiles alongside Kevin Hart, as well as in Antoine Fuqua’s runaway slave drama for Apple, Emancipation. Meanwhile, Leitch is working on the star-studded action film Bullet Train, which is being led by Brad Pitt and Zazie Beetz, as well as The Fall Guy, which will star Ryan Gosling, among other projects.