John Z. DeLorean biopic in the works

A movie based on the life of controversial automobile executive John Z. DeLorean is in the works.

According to Variety, producers David Permut (Face/Off) and Steve Lee Jones have acquired the life rights to DeLorean, creator of the sports car made famous by the Back To The Future movies and owner of the short-lived DeLorean Motor Company (DMC).

DeLorean was arrested in 1982 accused of trafficking drugs in an attempt to raise money to save his failing company. He was freed two years later after proving that he was part of an entrapment plot devised by federal agents.

In 1999, DeLorean was declared bankrupt. He had fought more than 40 legal cases since the collapse of DMC in 1982.

DeLorean passed away from a stroke in 2005 at the age of 80.