A movie about Eddie 'The Eagle' Edwards is in the works.

Eddie the Eagle - whose real name is Michael Edwards - became a British hero despite finishing last in both the 70 metre and 90 metre ski jumps at the 1988 Winter Olympics in Calgary, Canada and will now become the focus of a film.

A source said: ''Eddie is a national institution and his story would make a great Hollywood tale.''

Although it is unclear so far who will take on the role of the failed Olympian, 'Kick-Ass' director Matthew Vaughn and his Marv Films production company are said to be behind the upcoming project.

The source continued to The Sun newspaper: ''The film will be a 'Cool Runnings'-style underdog story, with a lot of comedy. But with Matthew at the helm, it will also include a lot of action and special effects.''

'Hitchcock' screenwriter Sean Macaulay was eager for the film to be made in 2009 and had eyed 'Harry Potter' star Rupert Grint to play Eddie, however, similarly to the athlete's failures on the slope, the project never got off the ground.

The announcement that Vaughn is to direct is expected to take place in the coming weeks, along with casting news.