Prolific producerAndy Vajna and screenwriter Joe Eszterhas are developing an as-yet untitleddrama about the historic encounter between the Hungarian and Soviet water poloteams at the 1956 Melbourne Olympics.

The olympicsemifinal is considered to have been one of the bloodiest ever sport eventswhere the players' blood coloured the water red. The Hungarian team later wenton to win the event.

The film which willalso include the violent events surrounding the 1956 Hungarian revolution,comes after the current Hungarian water polo team defended its olympic title atthis year's games in Athens.

No cast or crew hasyet been attached to the production, but a Hungarian director is expected tocome on board. The film, which will beshot in Hungarian, with Hungarian cast and crew and partially on Hungarianlocations, is planned to be released on December 6, 2006, the fiftiethanniversary of the Melbourne semifinal.