The Tracking Board is reporting that producer Mark Gordon (The Patriot, Source Code, The Chronicles of Narnia: The Silver Chair) is mounting a new adaptation of The Phantom, based on the beloved comic book character created by Lee Falk in 1936.

The original comic centered on the 21st version of The Phantom, whose background dates to the year 1536, when the father of British sailor Christopher Walker was killed during a pirate attack. He swore an oath on the skull of his father's killer to fight evil, which started The Phantom's legacy that would be passed from father to son.

The character has been adapted in the past, with a 1996 feature version of The Phantom starring Billy Zane as the title character, which famously bombed, earning only $17 million at the domestic box office from a $45 million budget. The feature did not even receive an international release. The Phantom was revisited in 2009 with a short-lived TV series that starred Ryan Carnes. Both the feature and TV series centered on The Phantom coming to New York City, although it isn't known if this new adaptation will follow suit, or if if will go back to the hero's fictional home country of Bangalia.

We also reported back in 2008 that screenwriter Tim Boyle was trying to get a reboot off the ground entitled Phantom Legacy, but it never materialized, even though actors such as Sam Worthington were interested at one point. However, with a producer of Mark Gordon's stature on board, it's possible that this may see the light of day. Drew Simon is executive producing for The Mark Gordon Company, which is currently seeking a screenwriter for the project.

Are you excited to see a new version of The Phantom? Chime in with your thoughts below.