Renny Harlin is in talks to direct Sylvester Stallone's long-cherished motor racing thriller for Franchise Pictures. Formerly titled Champs, the movie is now simply known as Untitled and will be executive produced by Franchise's Andrew Stevens.

Untitled would reteam Harlin, hot off worldwide hit Deep Blue Sea, and Stallone, who has just completed Get Carter, for the first time since 1993 smash Cliffhanger.

Stallone has been working on the racing movie for over five years now and at various times it was housed with Miramax Films and Andy Vajna and Mario Kassar's C-2 Films.

The film will be set against the backdrop of the US-based FedEx Championship Series owned and run by Championship Auto Racing Teams (CART).

The Fedex Championship Series takes place on oval circuits as well as temporary and permanent road courses. Shooting on the movie, for which Stallone himself has written the screenplay, is scheduled to start shooting in the late summer.