Lance Armstrong Movie Already in the Works

Well, that was fast!

Less than 24 hours after his history making confession to Oprah Winfrey, a biopic detailing the rise and fall of disgraced cyclist Lance Armstrong has already made some serious headway towards the big screen.

Related: Lance Armstrong Admits to Cheating: Winning's Impossible Without Doping

ET has learned Paramount Pictures & Bad Robot (J.J. Abram's production company) have secured rights to Cycle of Lies: The Fall of Lance Armstrong, a book proposal penned by Juliet Macur. The author, a sports reporter from The New York Times, has covered the athlete over the span of a decade throughout Armstrong's struggle with cancer, years of doping allegations and ensuing lawsuits.

In a no-holds-barred interview Thursday with Winfrey, Armstrong finally admitted to doping during all seven of his Tour de France victories. Last year, the shamed cyclist was stripped of his titles following a damning report from the U.S. Anti-Doping Agency. Until recently, Armstrong vehemently maintained his innocence.