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Featured Image Credit: Warner Bros
"Who is going to be the first to get an Oscar? Let's have that debate," Lee told Entertainment Weekly of Jordan and new star James.
"Space Jam: A New Legacy is a better movie than Space Jam," he declared. "If you say theatrical movie, Space Jam is it. LeBron's got that going for him."
He did give credit to Jordan's talent, however.
"Michael Jordan transcended sports. LeBron is arguably in that category. Now, there's probably no LeBron without Jordan, and I'm sure he would admit that. But he's a once-in-a-generation player.
"I love who LeBron is as a man, as an athlete, as an activist.
Meanwhile, James said that while he hasn't spoken to Jordan about the movie, he hopes he approves of the sequel and his new role in it.
"It's something Mike created and is his," James told EW."I held that with a lot of responsibility.
"In my younger days, part of my thinking was Space Jam was so good, how can I top this?"
James added that while he's aware that comparisons between him and Jordan are inevitable, he's not too worried about it.
"There's always going to be conversations about LeBron trying to do everything Michael [did]. But I've gotten older, and you know who you are. You know what you stand for."
Speaking of joining forces with the Looney Tunes team, the LA Laker star said: "It's one of the biggest games, if not the biggest game, I've ever played in.
"The Goon Squad is probably the best team ever assembled in basketball history."
In the same vein as the original, the new film will feature a slew of cameos from basketball stars, including Klay Thompson, Anthony Davis, Damian Lillard, Chris Paul, Draymond Green, Kyle Kuzma, Diana Taurasi, Nneka Ogwumike and Chiney Ogwumike.
"The phone would ring, the texts would come in, and then on social media a lot of people were tweeting at me saying, 'Hey, I'm available for Space Jam if you need me," James said.
"People want to be a part of it, because it's timeless."
Space Jam: A New Legacy hits cinemas July 15, 2021.