Recent Twitter posts by the A-Team helmer suggest that the Marvel Comics-inspired project could be in jeopardy due to time constraints.
"Think my idea for a certain retro, red-suited, Serpico-styled superhero went up in smoke today kids," he wrote. "We shall see. Time is NOT on anyone's side."
Reports claim that Fox must push a Daredevil movie into development soon or risk losing the rights to Marvel Studios. David Slade was previously hired to bring the character back to the big screen, but dropped out due to scheduling conflicts.
The studio recently moved to quash rumours that it is prepared to relinquish the cinematic rights to the Fantastic Four in exchange of an extended Daredevil deal.
Chronicle director Josh Trank is currently attached to Fox's planned Fantastic Four reboot.