Kirby Lee-USA TODAY Sports

So, a President of the United States, the First Lady, LeBron James and Peyton Manning walk into a TV studio ...

Does this sound like a setup that needs a punchline? Nope, it's no joke. James, the NBA's all-time leading scoring leader, Manning, a five-time NFL MVP, and Barack and Michelle Obama are going into business together.

And it's the TV business, with a partnership between three production companies that is going to lead to another show in the hot category of "sports docuseries.''

According to The Hollywood Reporter, LeBron' SpringHill Company is in negotiations with Manning's Omaha Productions and Barack and Michelle Obama's Higher Ground for a series that would do for professional basketball what the NFL's "Quarterback" did for the NFL when it debuted this summer.

The NBA is apparently going to have a hand in this, and it seems that the show will likely end up on Netflix, as did "Quarterback.''

In "Quarterback's" first season, the series focused on a trio of NFL players at different levels of their career, highlighted by a glimpse into the personal life of Kansas City Chiefs QB Patrick Mahomes.

With the drawing power of the Obamas, LeBron and Manning - and their production companies, each of which has ample muscle in the TV and movie industry - the show almost can't go wrong. Nor can the finances, given the connections involved.

Manning's Omaha Productions is now a recognized brand. And the Obamas' Higher Ground? They have a film and TV deal with Netflix, and a podcast deal with Audible, and maybe the most prestigious product of all, a potential Oscar contender in the film American Symphony.

More must-reads:

TODAY'S BEST
Xander Schauffele, Collin Morikawa lead at PGA Championship
Mystik Dan comes up short at Preakness, denied shot at Triple Crown
Seize the Grey wins in muddy Preakness
Panthers star named winner of 2024 Selke Trophy
Tyson Fury-Oleksandr Usyk epic increases excitement for potential rematch
Knicks could get major boost for Game 7 showdown with Pacers
WNBA to investigate $100,000 sponsorship deals for Aces players
Tiger Woods blames one big factor for missing the cut at PGA Championship
Giants All-Star pitcher suffers setback in recovery from injury
Watch: Juan Soto's first multi-homer game as a Yankee
'Ain't good enough': Draymond Green claims Celtics must 'win it all' or it's a 'failure'
Blue Jays GM wants struggling club to feel 'massive sense of urgency'
Raptors expected to flip former NBA champion during the offseason
MLB insider reveals Mets' massive extension offer that Pete Alonso turned down
Celtics legend provides update after gruesome finger injury
Bulls hire former NBA head coach as top assistant
Chiefs move on from young running back
20-year MLB veteran working out, unsure about playing future
USA Hockey names HC for 2025 4 Nations Face-Off and 2026 Olympics
Key Knicks forward ruled out for Game 7 vs. Pacers