Set to be called 'Red-Blooded American', Cooper is looking to play either the main role of Armstrong or Tyler Hamilton, Armstrong's former teammate who was part of his inner circle on the US Postal Service Team, reported Digital Spy.
There are currently a number of other films in production based around the rise and fall of the seven-time Tour De France champion.
Cooper was previously linked to the lead role in a different film from JJ Abrams's Bad Robot Productions, which has acquired the rights to Juliet Macur's upcoming book 'Cycle of Lies: The Fall of Lance Armstrong'.
