Although Variety says the production has not been given the green light from 20th Century Fox, the film would be directed by Joseph Kosinski and be based on the 2009 book "Go Like Hell: Ford, Ferrari and their Battle For Speed and Glory at Le Mans" by A.J. Baime, which relates the story of the grudge match at Le Mans in the 1960s Ford and Ferrari, which followed Henry Ford II's unsuccessful attempt to purchase the Italian marque. Shelby was a key player on the Ford side in that fight, and was interviewed by Baime extensively for the book.
Variety says production will start next year pending final approval, with a theatrical release anticipated sometime in 2015. Racer.com