Filmmaker Peter Farrelly will be tackling "I Play Rocky", an upcoming movie exploring the story behind Hollywood legend Sylvester Stallone's iconic movie "Rocky".

Farrelly will produce the film with Toby Emmerich, the former Warner Bros. film chief, and Christian Baha. He will direct the movie from a screenplay by Peter Gamble, reported entertainment news outlet Deadline.

Stallone, who was a struggling actor with a partially paralysed face and a speech impediment in the 1970s, wrote the script of the 1976 boxing drama and also headlined the movie that won three Oscars and spawned a film franchise.

"I Play Rocky" will chronicle how Stallone wrote the film's script that a big movie studio wanted to buy, but refused to sell it unless he gets to play the lead.

"Turning down an offer of life-changing money, he instead works for pennies to get the movie made with himself in the starring role," according to the official synopsis.

Casting is underway for the project with FilmNation Entertainment handling international sales.

Farrelly, who won an Oscar for his 2018 movie "Green Book", most recently directed "Ricky Stanicky", an adult comedy starring Zac Efron and John Cena.

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