David Goyer, writer on Man of Steel and its upcoming sequel, has reportedly already written a screenplay draft. Gaiman will act as executive producer on the project.
It’s been a long and perilous road the bring Sandman to the big screen, with rumors of its production dating back to the 90s, and apparently involving Roger Avary (“American Psycho”, “Rules of Attraction”) as director. Then there were talks of the adaptation appearing as a TV series, but that never came to pass.
More on this news as it develops.
Source: Hollywood Reporter