The director duo, who is also writing the screenplay for the biopic, will produce the project via their JG Brothers production banner.
"We are very excited to bring Rocky Johnson's incredible story to the world," they said in a statement.
"Ring King" will show how Rocky managed to establish himself as one of the first black wrestlers to demand and receive a contract. He retired from the wrestling ring in 1991.
Currently, there is no word on whether Dwayne will be involved with the movie in any capacity.
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