The "Wolf of Wall Street" actor will not star in the film, and the "Transformers" director is not directing the project, said The Hollywood Reporter.
The duo will produce the movie via their respective banners Appian Way and Bay Films.
"Virunga" director Orlando von Einsiedel has roped in to helm the movie which is still in development stage.
The movie will revolve around American cyclist Jacques "Jock" Boyer, who after retiring went to Rwanda and formed the country's cycling team, Team Rwanda.