Warners Developing “Arthur and Lancelot”

Warner Bros. has won a major bidding war for the rights to the spec screenplay “Arthur and Lancelot” from filmmaker David Dobkin (“The Change-Up,” “Wedding Crashers”) says Deadline.

The $90 million-budget project is described as a modern re-imagining of the King Arthur and Sir Lancelot legendary tales. Dobkin will direct from his own screenplay and produce alongside Lionel Wigram.

The project marks the third film in development at the studio based on the Arthurian legend. The other two include Bryan Singer’s remake of “Excalibur” and a Guy Ritchie-directed take by comic author Warren Ellis. New Regency is also developing “Pendragon” which Sylvain White (“The Losers”) was attached to.