UPDATE 3:36 p.m.: Despite previous reports alleging that LeBron James had also been confirmed to star in Space Jam 2, we now have this: ESPN's Brian Windhorst has confirmed that "no deal is in place" but may come to fruition "at some point." Does this mean Space Jam 2 is a lock, with or without LeBron? Stay tuned.

See original story below.

Space Jam is finally getting a sequel. Justin Lin (Fast & Furious, Star Trek Beyond) will direct the long-awaited second Jam entry starring LeBron James, according to the Hollywood Reporter. The script is currently being penned by Andrew Dodge, most known for his work on the underrated Jason Bateman comedy Bad Words.

The Space Jam 2 rumors have (understandably) been relentless since the 1996 original captured the hearts of an entire generation. When James and his own SpringHill Entertainment inked a deal with Warner Bros. last July, those rumors promptly kicked into overdrive. A Space Jam sequel starring LeBron James, we can now say with confidence, actually isn't too good to be true.

The original Michael Jordan-starring Jam, according to figures from Box Office Mojo, bagged more than $230 million at the global box office. Though a sequel to a hit of that size would seem like a guarantee, the past twenty years' noticeable lack of a Space Jam 2 sadly proves otherwise.​ Given the current embrace of 90s nostalgia, 2016 seems like a slam dunk of a year to finally get this sequel in motion.

As this as-confirmed-as-it-gets sequel is still "early on in the process," a release date and production schedule have not been confirmed. At any rate, now is definitely the time to get unreasonably stoked. Also, as THR's joyous report sadly omits this key inquiry, we can now collectively theorize on our own about how Bill Murray (and Wayne Knight too!) may somehow return to assist James in another round of intergalactic basketball:

For proper Space Jam 2 celebration tactics, consult the original film's retro web presence.