The director is reportedly revising the script for DiCaprio, who has express fleeting interest in the true-story inspired drama, according to the Hollywood Reporter.
Russell is also expanding the small role of a QVC executive for his frequent collaborator Bradley Cooper.
On top of that, Russell wants to bring in Robert De Niro after working with the actor in 'Silver Linings Playbook'.
De Niro has reportedly entered negotiations to play the father to Lawrence's character.
Lawrence won the best actress Oscar for her role in 'Silver Linings Playbook' and earned a nomination for 'American Hustle', also directed by Russell.