Beyoncé's father will be entitled to his biopic

Mathew Knowles has validated the project of a biopic devoted to his career.

Beyoncé's father, a former manager of her group, Destiny's Child, has sold his company Music World Entertainment Group to an investment fund, APX Capital Group.

And in the terms of the sale, he has arranged to lead the group's Film and Television division, which will develop projects worth $250 million.

And coincidentally, the first project announced is called

.

Much like

, which tells the story of Venus and Serena Williams' father, the film will tell how the businessman managed the careers of his daughters Beyoncé and Solange, and propelled Destiny's Child to the top of the charts.

One-time collaboration

In a press release, Mathew Knowles spoke about what this transaction represents for him and his company.

“Through this unique collaboration and as head of this new division of APX, I will be able to share my life story by combining compelling storytelling with access to exceptional talent and music, which will both entertain and emphasize the cultural awareness that is needed more than ever.

This is the story of my life and I am honored to be able to convey it even more through this alliance,” he wrote, according to Deadline.

No release date has yet been announced for this project, but there is no doubt that it will be very attentive to the performance of

at the Oscars.

The film, which stars Will Smith as the father of female tennis champions, is nominated in six major categories.

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