Variety is reporting that Tom Hanks is in negotiations to play Elvis Presley’s iconic manager Colonel Tom Parker in the Baz Luhrmann-directed biopic about the King of Rock and Roll!

Baz (who directed Moulin Rouge!) is at the helm and the screenplay will be written alongside Craig Pearce.

To give a brief history: “[Tom] discovered [Elvis] when he was just an unknown and quickly moved in as his lone representation,” reports Variety. “Parker was responsible for various milestones, including [Elvis’s] record deal with RCA and his successful acting career.”

Apparently, Baz doesn’t want a star to play Elvis. He wants a newcomer! And he’s even started meeting with bright young actors for the role.