John Travolta’s “Gotti” biopic

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John Travolta‘s “Gotti” biopic wasn’t thrown to the wolves by Lionsgate Premiere, but instead bought out by a group that plans on distributing it to the masses.

One of the film’s executive producers, Keya Morgan, tells TMZ the “Gotti” project was originally supposed to be distributed by Lionsgate Premiere … a branch of the company that handles smaller, niche releases.

Morgan says his team believes the movie could do gangbusters in wide release and he even believes Travolta could end up with some hardware on his mantle.

We’re told the original distro contract featured a buyback clause, so Morgan and others wired $10 million to prove to LGP they meant business and the company forked over the release rights. Morgan says LGP will profit big-time when the movie comes out.

Travolta’s flick was scheduled to hit the screens next week, but Morgan says the new plan is to take it to Cannes or Venice first and then release it in at least 1,000 theaters. The release date is uncertain.

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