Baz Luhrmann in Negotiations to Direct Elvis Presley Biopic for Warner Bros. (Exclusive)

Kelly Marcel is writing the film, which Gail Berman is producing and Andrew Mittman is executive producing

Ladies and gentlemen, Elvis is in the building — as in, the Warner Bros. building — and director Baz Luhrmann is in negotiations to join the iconic singer, who is the subject of an untitled biopic being written by Kelly Marcel (“Fifty Shades of Grey”), TheWrap has learned.

Warner Bros. had no comment.

Marcel is hard at work writing an original screenplay about Elvis Presley, the hip-gyrating King of Rock and Roll, that will not be based on any pre-existing material. While the project is believed to be a biopic, it’s unclear which periods of Presley’s life would be depicted in the film.

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