The Oscar-winning actor shared a picture of himself this week during a meeting with Mike Tyson, and said, "Thank u for the trust... one step closer."
For years, stirrings of a biopic about the boxer's career has been in the works and the boxer has made it known he wanted Foxx to be the one to play him.
Martin Scorsese has also been rumored to be tied to project, but the director has not confirmed those reports.
The fact Foxx and Tyson are publicly discussing the project definitely adds fuel to the fire that an official announcement could be made soon.
The former heavyweight champ also recently appeared on "The Joe Rogan Experience" and said the movie is going to be "wild."