Los Angeles: Veteran actor Tom Hanks is in negotiations to play Elvis Presley's iconic manager Colonel Tom Parker in Baz Luhrmann's untitled biopic on the legendary musician.


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The Warner Bros project is also penned by Luhrmann along with Craig Pearce.


According to Variety, the director wants to cast a newcomer for the role of Presley.
Parker discovered Presley when he was just an unknown and quickly moved in as his lone representation. Parker was responsible for various milestones, including Presley's record deal with RCA and his successful acting career.


Luhrmann is planning to get the film into production sometime this year.