(CNN) -- We've all seen how well Jamie Foxx can sing as well as act, so casting him in the upcoming "Annie" remake sounds like it would be a smart move.
The contemporary take on the musical will star Quvenzhané Wallis as the young orphan, and 45-year-old Foxx is reportedly in talks to portray the remake's version of Daddy Warbucks, Benjamin Stacks.
According to The Hollywood Reporter, Foxx has received an offer, and his team has kicked off negotiations.
The "Annie" remake already boasts three of Hollywood's elite on its production team, as Will Smith and his wife, Jada Pinkett, are producing the film through their Overbrook Entertainment along with Jay-Z's Marcy Media.
Initially, the Smiths' daughter Willow was attached to the role of Annie, but she aged out of the part. In February, studio Sony Pictures announced that nine-year-old Oscar nominee Wallis had been cast as the feisty lead.
Will Gluck ("Friends With Benefits," "Easy A") is directing the project, which is slated for a holiday 2014 release.