Spike Lee has come on board to direct Justin Timberlake starrer "Spinning Gold," a biopic about record exec Neil Bogart.

Foresight Unlimited is set to update international buyers on the project at the American Film Market next week. Foresight began selling territories at Cannes, hosting a private event on the Croisette for distributors.

CAA, which reps Lee, said the deal has not closed.

Bogart is credited with discovering Curtis Mayfield, Bill Withers, Gladys Knight, Kiss, Parliament, Donna Summer and the Village People. Project aims to tell the rags-to-riches story of a poor kid from Brooklyn who defined pop music before his death from cancer in 1982 at age 39.

Timberlake has been attached to star since 2011. Film is expected to start shooting in the middle of next year.

Foresight's CEO Mark Damon will produce alongside Timberlake, Laurence Mark and Boardwalk Entertainment's Timothy Scott Bogart and Gary A. Randall. Joyce Bogart-Trabulus is exec producing with Foresight's Tamara Birkemoe and Envision Entertainment's Remington Chase, Stepan Martirosyan and Vitaly Grigoriants.

RCA Records will partner on the project and release the soundtrack. Screenplay was written by Bogart's son, Timothy Scott Bogart, who developed the script with Timberlake.

Lee directed a remake of "Oldboy," starring Josh Brolin, which is currently set to go out from FilmDistrict on Nov. 27 before that label disappears into Focus Features.

Lee also raised $1.36 million during July and August through Kickstarter to fund a film focused on human beings who are addicted to blood.

The Hollywood Reporter first reported the news.

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