Fast and Loose has been in the works since before Smith's slap of Chris Rock at the 2022 Oscars ceremony. THR previously reported that David Leitch had exited the project the week before the infamous Academy Awards telecast to start work on The Fall Guy, the Ryan Gosling-Emily Blunt action-comedy feature that Universal released last year.

Will Smith and director Michael Bay were meant to re-team for Netflix's Fast and Loose, but have since parted ways.

Jon Hoeber, Erich Hoeber, Chris Bremner and Eric Pearson worked on the screenplay. Jon and Erich Hoeber wrote the original script after selling their pitch