Cage, the Oscar-winning star of "Leaving Las Vegas" and most recently seen in hit comic-book adaptation "Ghost Rider" and the thriller "Next," is in negotiations to star in the film, the entertainment journal Daily Variety reported.
"The Untouchables" starred Kevin Costner as the federal agent charged with bringing mob boss Al Capone (Robert DeNiro) to justice in 1930s Chicago.
The new film will depict Capone's rise to power and his relationship with police detective and nemesis Jimmy Malone, played by Sean Connery in "The Untouchables."