The show, which is currently in development, will be called "Three the Hard Way." It will feature a character named Daryl Wade, who is an NBA superstar responsible for raising his two sons as a single parent.
The show is described as Wade and "his entourage of eccentric friends, find themselves parenting by committee, when he gets full custody of his two young sons. It's a recipe made for disaster, but no matter how misinformed, misguided, or unfit Team Wade may be, they have a trump card that can't lose. It's called love."
The plot closely follows Wade's life and is based on the book he released last year called "A Father First." Wade has had sole custody of his two sons, Zaire and Zion, since 2010.
"Who's going to play me? I haven't figured that out yet, but I'm sure it's going to be somebody handsome," Wade said. "I just want somebody who's good. ...
"I will be involved, very involved ... to the point where it has enough of what I would like to see from my story. Obviously it's a comedy, but there will be some things you want to let loose."
Wade said the show would be inspired by some themes of "The Cosby Show."
"I think they'll be able to pull the comedy out of the dark moments," Wade said. "That was one thing I kept saying before I sold my story. I want to be able to bring some light into the dark times. I always take off from "The Cosby Show" kind of thing. They always told a lesson at the end of the day. There's always a story, and comedy in it as well."
Wade, who recently formed his own production company called ZZ Productions, is a partner in the project with Mandalay Sports Media, Perfect Storm Entertainment and Sony Pictures Television.
Wade has been expanding his offcourt interests recently including releasing a line of ties and socks.
Information from ESPN.com's Michael Wallace was used in this report.