AceShowbiz -

Although he was present during the movie's press conference in New York last week and weighed in on the directorial view, Nick Cassavetes is not going to direct "Gotti: Three Generations". It was the case of a scheduling conflict that forces Cassavetes to pull out of the project. He was already committed to indie drama "Yellow" and was released from his "Gotti" contract on Monday, April 18.

As a result, the producers are opening a vacancy for a new director to step in and be ready for a production in fall. The movie will be shot entirely in New York in October for 2012 release. Executive producer Marc Fiore said he would self-finance the movie although he declined to reveal the budget.

John Travolta is officially on board to play the late mafia John Gotti who became the head of the Gambinos and died while serving time in prison. The actor's young daughter Ella Bleu Travolta has a featured role. Meanwhile, Joe Pesci is signed as Angelo Ruggiero and Lindsay Lohan is still in talks for a role, presumably, that of Victoria Gotti.

Cassavetes' "Yellow" is set to be released next year as well, starring Ben Foster and Sienna Miller among others. Co-written by Cassavetes, it's a dramedy which centers on Mary Holmes, a young woman with a drug habit and a myriad of other problems.