Universal Pictures has acquired Nottingham, a hotly-pursued spec script from the creators of Sleeper Cell, in a deal that will reunite Russell Crowe with Imagine Entertainment.

Variety reports that Crowe will receive $20 million against 20% to star as the Sheriff of Nottingham in this revisionist version of the Robin Hood story; screenwriters Ethan Reiff and Cyrus Voris will receive seven figures for the script. There is no director attached yet.

Imagine's Brian Grazer will produce the film, expected to start shooting at the end of the year or early 2008.

Crowe will be seen in American Gangster, scheduled to be released on November 6 and 3:10 to Yuma, an upcoming Lionsgate movie.