'The Trial of the Chicago 7' was one hot project in 2008, with Aaron Sorkin writing, Steven Spielberg directing, and Will Smith and Sacha Baron Cohen rumored to star as Bobby Seale and Abbie Hoffman, respectively. The project has been dormant for a while, but 'The Bourne Ultimatum' director Paul Greengrass might be the person to bring it back to life.

Deadline is reporting the project is being re-imagined as a much smaller project, with a $20-$30 million budget. This means that Greengrass is likely to apply the faux-documentary approach he used in his other "based on true events" films 'Bloody Sunday' and his Oscar-nominated 'United 93.' If Greengrass signs on, it's likely to go in front of the cameras this January using Sorkin's script.

Greengrass established himself with 'Bloody Sunday' in 2002 and it launched him to directing the second Jason Bourne film 'The Bourne Supermacy,' which he followed with 'United 93' and 'Ultimatum.' He and Matt Damon reteamed for 'The Green Zone' in 2010, but that picture bombed. Greengrass will follow 'Green Zone' up with 'Captain Phillips' later this year, and that might right him both at the box office (it does star Tom Hanks), and could be an Oscar favorite. If 'The Trial of the Chicago 7' does go in front of cameras in January, expect it to be an awards contender in 2014.