The film will chronicle the secret life of professional baseball player Moe Berg, a former attorney who served as a back-up catcher for teams like the Chicago White Sox, while leading a double life as a spy for America's Office of Strategic Services (O.S.S.), the forerunner for the Central Intelligence Agency (C.I.A.).
He helped the U.S. Beat Germany in the race to build the atomic bomb.
Paul Rudd has been attached to play Berg since last April and now Giamatti has signed on as Goudsmit, alongside Jeff Daniels as the chief of the O.S.S., William 'Wild Bill' Donovan, reported Deadline.
Together, Berg and Goudsmit managed to infiltrate the inner circle of leading Nazi scientist Werner Heisenberg and gather information about their atomic programme as part of the Alsos Mission.
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The film will be based on the Nicholas Dawidoff biography of the same name, which was released in 1994.
Ben Lewin will direct "The Catcher Was A Spy", which has been adapted by Saving Private Ryan writer Robert Rodat.
Production begins in Prague, Czech Republic on Monday.