"I will not [be singing] and neither will he."
Deadline reported that the currently-untitled project will revolve around street basketball, with the Believe singer playing the rookie to Wahlberg's mentor character.
"The tone of the project is described as The Color of Money meets The Karate Kid, and it came out of Wahlberg and [producer Stephen] Levinson seeing Bieber play ball in February during a celebrity game held during NBA All-Star Game weekend," Deadline reported.
Wahlberg, currently treading the promotional treadmill for new comedy movie Ted, has since offered an update on the long-in-the-works project.
"We're just waiting for the script, I've seen 115 pages of it and it's really good," the actor, who will produce and co-star in the movie, told Access Hollywood earlier this week.
"It's kind of like the Color of Money, [first you had] Paul Newman and Tom Cruise, and now me and Justin Bieber. It could be very good," he explained, adding that Bieber is "focused" and "very serious about" taking on the big screen project.
"We're trying to create an opportunity to showcase his talents and his abilities," he added.
US TV show Extra also recently caught up with Wahlberg and probed him about working with the teen singer.
"I think he's going to be a great actor," said Wahlberg, while quipping that Bieber's signature coif might need some attention before he shoots some hoops. Good luck with that one.
Wahlberg next appears in Ted, co-starring the lovely Mila Kunis.
Check out a video of the pair discussing the movie, and Wahlberg's update on the Bieber project, below (skip to 2:24 for the Bieber bit):
And while you're down here, have a butchers at the trailer for Ted:
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