Ben Affleck, Matt Damon In Action As Phil Knight, Sonny Vaccaro In 'AIR' Trailer

Months after best buds Ben Affleck and Matt Damon hit the set of their new movie, AIR, portraying Phil Knight and Sonny Vaccaro, the trailer for the highly anticipated biopic documenting the rise of Nike just dropped!

The upcoming movie, also starring Jason Bateman, Viola Davis, Marlon Wayans and Chris Tucker, is based on Knight and Vaccaro -- who brought Michael Jordan to the Swoosh.

Nike was launched in 1972 (Knight started another running company in the 60s), and was the opposite of the powerhouse it is today. The business began to grow, but really exploded when Vaccaro, played by Damon, got Jordan to sign with Nike.

Davis plays Michael's mom, Deloris Jordan.  Tucker plays Howard White, a Nike exec.

It's not the first time we've seen the guys in character ... back in June, we got photos from the set. Jennifer Lopez was even there supporting her man, Ben.

Back then, the guys received a mixed reaction ... but now that the trailer's out, fans seem excited about the movie!

But, they're not alone. We spoke with the real life Sonny Vaccaro last year, and he was pumped for the film.

"I'm 83 years old. It was complete surprise to me. It's an unbelievable honor and I believe in what they're going to do is going to be the truth on the film," Vaccaro told us last October.

"This is the best thing that I could have ever imagined."

It's obviously not the first time Damon and Affleck have teamed up together for a movie ... they've done it a bunch, including in the critically acclaimed "Good Will Hunting."