Hollywood continues on its TV mining expedition, this time with the hit cult reality show American Gladiators, according to Variety. Peter Iliff – whose credits include Patriot Games, Varsity Blues and Under Suspicion – has been contracted to adapt a live-action film version of American Gladiators, featuring the antagonistic characters as superheroes.

American Gladiators first aired in 1988 and has been broadcast in more than 90 countries.

The film, which producers are targeting for a 2011 release, will be produced by Scott Mednick (Teenage Mutant Ninja Turtles), along with American Gladiators creator Johnny Ferraro executive producing.

Iliff recently wrote a sequel to his 1991 surfing bank robber crime thriller Point Break, which will be directed by Jeff Wadlow (Cry_Wolf, Never Back Down). The sequel, which is expected to be released in 2010, is titled Point Break Indo, and stars Matt Gerald, Masa Yamaguchi, Rick Otto, Damian Walshe-Howling, Christopher Baker and Kenneth Moraleda.