The plot revolves around a pair of mismatched cops, Digital Spy reports.
Adam McKay is slated to direct the film. McKay is currently directing Ferrell in his Broadway show, "You're Welcome America: A Final Night with George W. Bush" and worked with the SNL alum on "Talladega Nights" and "Step Brothers."
Chris Henchy will write the script, according to Digital Spy. Henchy is a co-executive producer with Wahlberg on the HBO series "Entourage". Henchy, also, wrote the script for Ferrell's upcoming movie, "Land of the Lost."
The movie was pitched to Sony and they loved it, according to Variety. The film is expected to have a buyer by the end of the week even though there is no script.