Sir Elton John and Justin Timberlake are in "no race" to make a biopic about the British singer.

Justin is set to play the musical legend in a movie about his life. The pair have been regularly discussing the project, and Elton's partner David Furnish has revealed they are currently looking for someone to helm the film.

"We're searching for a director. It's important we all share the same vision," David told E! Online. "Elton and Justin have had conversations about it. Justin also says he has to feel comfortable with the director and the director has to be comfortable with Justin. The chemistry is really important. There's no race to make this. We're just going to take the time to make it right."

Justin is Elton's first choice to star in the film after previously portraying the singer in the David LaChapelle music promo for Elton's song This Train Don't Stop There Anymore.

David has also revealed Elton is considering other projects apart from a Hollywood biopic.

"We haven't ruled out a [Broadway] musical," he added. "But we just want to do the movie first."

Elton and David are currently busy planning their annual Oscar viewing party which raises money for the Elton John AIDS Foundation.

A host of stars attend the glitzy event and this year guests will include Heidi Klum, Adam Levine, Lea Michele, and Kim and Kourtney Kardashian.

David insists the need to raise awareness about AIDS is as relevant today as ever.

"We're creating a vision - a world without AIDS. It's the biggest disease in the world. More than 34 million are infected with 1.3 million in this country alone. It's not over," he explained.

"The biggest thing we have to address is stigma. People are stigmatised when they have the disease still. They're stigmatised to the point that they're frightened of getting tested, frightened of knowing their status and not getting on their medications. We have to break that cycle."