Acclaimed director Steven Soderbergh will direct Michael Douglas and Matt Damon in a Liberace biopic next summer.

The project, which has been on the back burner for over two years, is expected to finally get underway.

The Ocean's Eleven director has drafted Douglas to play the flamboyant pianist and Damon is taking on the part of Scott Thorson, Liberace's alleged lover.

“It's told from the perspective of Scott,” Soderbergh told MTV News last year. “We have this framing device in which he's laying [the story] out for us. As a narrator, it feels like he has an agenda – and then when you get to the ending you realize, 'Oh, it's not what I thought.'”

Liberace vehemently denied being gay and successfully sued The Daily Mirror and Confidential in 1957 for implying he was gay.

The personal life of Liberace – especially his true sexuality – remains mysterious to this day. Born in Wisconsin, he started playing the piano at the age of four. In the early 1940s he performed his musical act of classical whimsy to New York audiences to some success, but hit the jackpot in Las Vegas where he earned millions with his lavish – some would say campy – musical productions.

In 1982, Scott Thorson sued the pianist for $113 million in palimony – claiming the pair shared a home for five years. The court dismissed his claim, but he did receive a $95,000 settlement.

Liberace died at the age of sixty-seven in 1987 from AIDS-related complications. His noticeable rapid weight loss was attributed to a “watermelon diet” by his longtime manager.

Also set to begin filming is Clint Eastwood's biopic of FBI Director J. Edgar Hoover.