"Space Jam 2" may purportedly be in the works as producers reportedly seem to be gearing for the sequel of the 1996 comedy that starred Bugs Bunny and Michael Jordan.

According to Time, Warner Brothers filed to renew its trademarks for Space Jam and fans could definitely expect "Space Jam 2" to hit theaters in the coming years. The production house is purportedly considering LeBron James as lead for the project.

"Warner Brothers announced that it was embarking on an 'unprecedented' creative partnership with the basketball player, 'spanning all areas of content creation.'" Time reported. "The official statement is vague when it comes to exact plans, but it does say that James' "creative footprint" would 'touch all areas' of the studio."

"There is no official word that he will star in the Space Jam sequel - or that the Space Jam sequel is even going to happen - but the circumstantial evidence is abundant. Even after his people denounced Deadline's report last year, James coyly hinted at the possibility," Time added.

Is Michael Jordan offended that he was not considered to star in "Space Jam 2?" The former athlete is yet to comment on the possibility of the film, but other "Space Jam" fans do not seem to appreciate LeBron James being brought in to star in the sequel.

In his article in Forbes, Scott Mendelson mentioned a few points on why LeBron James shouldn't accept the "Space Jam 2" project.

"Warts and all, the Looney Tunes + Michael Jordan basketball comedy was a vaguely original and noteworthy movie in terms of its artistic elements and how they combined into a weird and genuinely entertaining little stew," Mendelson wrote.

"A nostalgia-driven sequel would be the exact opposite of 'high concept.' We don't need to see a sequel just because the kids who loved it became adults who champion it."