Sylvester Stallone's Rocky origin story is set to get a movie adaptation, and Peter Farrelly to direct

Rocky is an iconic boxing film that made Sylvester Stallone a household name in 1976. The sports drama film charted the rise of Stallone's iconic character, Rocky Balboa, a boxer from Philadelphia. The film inspired many to fight their circumstances and went on to inspire five more films and a spinoff film series titled the Creed film series.

The story behind the making of the 1976 film is equally iconic, and Oscar-winning director Peter Farrelly is all set to direct a film about it. Peter Farrelly (known for Dumb and Dumber and Green Book) is presenting the film to buyers at the Cannes Film Festival, as per reports by Deadline. It is being presented to buyers by CAA domestically and by FilmNation Entertainment internationally.

In the past, Stallone famously stated how he sold his dog to pay bills and had only $106 left in his bank account when he pitched the film to producers. It eventually became a huge success and earned more than $200 million at the box office. The upcoming film is titled I Play Rocky and will narrate how Sylvester Stallone wrote the film in three days as a struggling actor.

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In I Play Rocky, Peter Farrelly retells the story of how Sylvester Stallone bet on himself as a struggling young actor

Peter Farrelly is inspired by the origin of Stallone's groundbreaking 1976 film Rocky. He is already working with Peter Gamble to write the script for the film, while Warner Bros. film chief Toby Emmerich is on board as one of the producers along with Farrelly himself. Also joining as a producer is actor Christian Baha.

In an interview with Deadline, Toby Emmerich stated that he had been fond of Peter Emmerich, and Peter's film Green Book convinced Toby to approach him for the screenplay of the Stallone-inspired film.

"I've been a fan of Peter Farrelly as both a filmmaker and a person since getting to work with him on the music for Dumb and Dumber. But it was Green Book that made me think of Pete for this inspiring screenplay."

During the interview, Emmerich also stated feeling great about having someone like Peter Farrelly at the helm. Additionally, the producers mentioned they wanted to cast someone as unknown as Sylvester Stallone when he originally wrote the iconic film.

"... And like the unknown Stallone starring in Rocky, Pete will be conducting a worldwide search to discover another actor who just needs one shot — in I Play Rocky — to show the world what he can do."

Sylvester Stallone in Rocky (image via YouTube/MGM Studios)

The film, currently in its early stages, already has an interesting logline. It reads:

"A struggling actor with a partially paralyzed face and a speech impediment who writes a script that a big movie studio wants to buy, but he refuses to sell it unless he gets to play the lead."

It further continues:

"Turning down an offer of life-changing money, he instead works for pennies to get the movie made with himself in the starring role. The movie becomes the biggest box office hit of 1976, notching 10 Oscar nominations and winning Best Picture."

While the director has not named Sylvester Stallone directly in the logline, the inspiration behind the film is revealing.

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l Play Rocky will be offered to studios at the Cannes International Film Festival in the coming week.