There are no negotiations — heck, there’s not even an offer from the studio — but a dance between the two has begun. Part of any decision will rest on a rewrite that scribe Jason Fuchs would need to do.

Sources said that Lobo, as it currently stands, would be a tentpole costing upwards of $200 million, a figure that has Warners execs reaching for the Maalox. Bay, too, has signaled that he isn’t keen on the massive nature of Lobo. The intended rewrite would scale down the project while still keeping the director’s interest.

In the comics, Lobo is a foul-mouthed mercenary who looks out for himself above all else.The antihero first appeared in the pages of 1983's Omega Men No. 3, with the character created by writer Roger Slifer and artist Keith Giffen. He possesses super strength and healing powers that make him a formidable match for heroes and villains alike.

A movie adaptation of the character has been in various stages of development for over 15 years. Will Smith and Dwayne Johnson have been connected to the project, while Guy Richie and Brad Peyton have previously been on board as helmers.

Bay last directed Transformers: The Last Knight, which opened in June, and is producing the upcoming Bumblebee spinoff for Paramount.