Deadline reports executives at the studio are pushing the project forward with a script written by William Monahan, the writer behind the 73-year-old director's 2006 gangster thriller The Departed, which picked up four Academy Awards, including a Best Director title for Scorsese and a Best Adapted Screenplay honour for Monahan.
Paramount bosses want their Evel Knievel picture to be similarly successful, which is why the studio heads are pulling for a reunion between William and Martin.
The movie will be adapted from Sheldon 'Shelly' Saltmann's book Evel Knievel On Tour, which upset the daredevil upon its release in 1977. Evel was so outraged by the tome, he attacked writer Shelly with a baseball bat, fracturing the author's arm. When Shelly's mother learned of the assault after the incident was broadcast on the news, she had a heart attack, dying three months later. But the trouble didn't end there, as a civil court judge awarded Shelly $12.75 million in damages for the attack, a ruling that prompted Evel to file for bankruptcy.
After Evel died in 2007 Shelly announced his plans to sue the late stuntman's estate for $100 million, adding interest to the original $12.75 million in damages he was awarded because the civil judgement was never paid.
Paramount's Evel Knievel biopic will be produced by Boardwalk Empire's Terence Winter, Dallas Buyers Club producer Rachel Winter and LBI Entertainment.
The project is in the very early stages of development so far, which, according to sources, is the reason why Martin has not yet confirmed whether he'll be directing the film or not.