Metro Goldwyn Mayer has said it plans to release the film about the life of Ayrshire cycling legend Graeme Obree in US cinemas at the end of this month.
Obree won the world championship on a home-made bike
MGM has bought distribution rights to The Flying Scotsman, which had its premiere in Edinburgh this year.
Graeme Obree's story includes building a bike from washing machine parts, breaking racing records, winning world championships and confronting illness.
The Flying Scotsman film had financial problems during production.
Now that MGM has acquired the outstanding rights to it from a London-based company observers are forecasting the movie will get a much bigger audience.
Industry sources said MGM was also negotiating with a UK distributor which could lead to a more general release in this country.
Enthusiasts in the sport have welcomed the prospect of its wider circulation.
The Flying Scotsman, which stars Johnny Lee Miller and Billy Boyd, opened the Edinburgh International Film Festival in August.
It had been overshadowed by financial problems after the production company went into liquidation before the film was finished and many of the cast and crew had been paid.