Update: Bad news, guys. My dreams are crushed yet again, courtesy of Brian Windhorst:
Well it was fun while it lasted. LeBron sources refute Deadline report, there's no Space Jam 2 or Warner Bros. project in works— Brian Windhorst (@WindhorstESPN) February 22, 2014
Every Millennial in the world should feel that part of their childhood was cheated because Michael Jordan never made a sequel with the Looney Tunes gang after Space Jam. Sure, it was one of the more bizarre movies to ever exist, but the ultimate joy of it all makes me literally believe I can fly. Somewhere in the sky, my nostalgia gods have answered this long lost prayer because Space Jam 2 is OFFICIALLY HAPPENING WITH !