The original is described as follows:
Master thief Corey (Alain Delon) is fresh out of prison. But instead of toeing the line of law-abiding freedom, he finds his steps leading back to the shadowy world of crime, crossing paths with a notorious escapee (Gian Maria Volonté) and an alcoholic ex-cop (Yves Montand). As the unlikely trio plots a heist against impossible odds, their trail is pursued by a relentless inspector (André Bourvil), and fate begins to seal their destinies. Taking its title from Buddhist lore, Jean-Pierre Melvilles Le Cercle rouge combines honorable anti-heroes, coolly atmospheric cinematography, and breathtaking set pieces to create a masterpiece of crime cinema.
The site says that Red Circle is being written by Eastern Promises writer Steven Knight for Working Title Films partners Tim Bevan and Eric Fellner.