The 'Space Jam' sequel could soon take a major step forwards.

The much-discussed sequel to the 1996 film will star NBA player Lebron James, but attempts to get the movie off the ground have been hindered by his current contract with the Cleveland Cavaliers franchise.

But with James' money-spinning deal up for renewal, it's thought that the world-famous sports star - who will replace Michael Jordan in the central role - will reach a new agreement that will allow him to promote the film through his own personal channels.

As part of the deal, James wants to commit to the Instagram TV Uninterrupted platform, which has emerged as a rival to YouTube.

And according to Basketball Society Online, James will use the platform to launch a 'Space Jam' trailer.

The original 'Space Jam' saw Michael Jordan team up with Bugs Bunny and the rest of the 'Looney Tunes' cartoon characters to play a game of basketball in order to save them from enslavement at an alien amusement park.

James, 33, previously appeared in the 2015 comedy 'Trainwreck', and Amy Schumer - who wrote the movie - revealed the unusual reason she decided to cast him in the film.

Amy - who also starred alongside Bill Hader in the hit film - confessed: ''I wrote him in (the movie) because he's the only basketball player I've ever heard of.''