For nearly 40 years, Orson Welles' final film –hailed by those who've seen the unedited footage as a "masterpiece" – has been locked in a vault. That could change soon, though, as 'The Other Side of the Wind' may finally get a release sometime in the very near future.

Shot way back in 1972, 'The Other Side of the Wind' tells the story of the last hours in the life of an aging film director. Welles described the project to John Huston (who was the star of the movie) thus: "It's about a bastard director, full of himself, who catches people and creates and destroys them. It's about us, John." That quote alone has tantalized serious cinephiles for almost four decades now.

This isn't the first time rumors of an official release of 'The Other Side of the Wind' have surfaced, but Los Angeles attorney Kenneth Sidle -- who's been involved in the ownership dispute –- told The Observer, "We are in negotiations for the picture, which would lead to the finishing and public exhibition. Hopefully within the next few weeks, we will know."

Hit the jump for more details on Welles' lost masterpiece.