The film will be directed by Charles (son of Irwin) Winkler.
According to Val Kilmer's website, he will play "a burly rough but loyal cop" while 50 Cent will star as his partner.
This is really cool news. If he's replacing DeNiro then this is quite a high profile role, just the thing that a talent like Kilmer needs at the minute. I feel that he is one of the greatest talents in Hollywood and a much under-used star that seems to have become victim of some BS bad press.
Don't believe me? Check him out in these films:
Kiss Kiss Bang Bang
It's good to see him on the comeback trail and with the new Knight Rider show we should be seeing (and hearing) a lot more Kilmer.
On a total side note, you should check out his music, it's great!!!
I'll keep you posted on any further developments.