“Pirates Of the Caribbean” helmer Gore Verbinski teamed up with Oscar-winning producer Graham King for an animated movie project, “with franchise potential.”

Working together for the first time, the duo will have an approximate $100 million budget to spend on the yet untitled flick. While details about the new project are still scarce, it has been reported that John Logan (“Sweeney Todd,”  “The Last Samurai”) will be wring the screenplay for the movie, which is scheduled for a 2010 release.

"Gore had been talking to John about writing it and was looking for a producing partner," King was quoted by the Hollywood Reporter as saying. "John has worked with me before (on Martin Scorsese's “The Aviator”) and said, 'Why don't you talk to Graham?' "

According to Variety, Verbinski will be bringing a couple of his Pirates co-horts over to the project with him. Mark McCreery, creature designer on the first movie, and James Ward Brykit, art director on the trilogy, will both work on the film.

GK Films and Blind Wink Prods., Verbinski's shingle, are producing along with producer John B. Carls. Tim Headington will serve as executive producer while David Shannon will take on the co-producer and the film's conceptual artist role.

“As one of the most imaginative, exciting filmmakers around today, whenever Gore turns his attention to a new project, he raises the bar in creative excellence. One only has to look at the fantastic effects and visionary ideas in Pirates to know that Gore’s first animated project will no doubt continue that trend. As you can imagine, to be partnering with Gore on producing this project as well as working with John again is particularly exciting for me,” King said.

Verbinski and King both said they had wanted to make an animated film.

“It's the first movie I've ever done that I can take my kids to," King added. "I've been looking to do movies that play to audiences of all ages.”

“I have always been inspired by animation as an art form. I think this is a tremendous opportunity to move the medium forward and continue to engage, challenge and entertain the audience. We have a unique team of virtuosos coming together and I truly believe that we can break free from the traditional mold, and create a new style that is all our own,” said Verbinski.