It will be co-produced by Sylvester Stallone and Ukrainian boxing brothers Wladimir and Vitali Klitschko. The brothers will also be responsible for training the new Rocky, who has not yet been cast.
The show’s premiere in Hamburg is also where the brothers made their professional debuts in 1996.
Meanwhile, Stallone spoke of his excitement at the project: “To see this story coming to life on a musical stage makes me proud. And it would make Rocky proud.”
He added that he had always thought the story would work as a musical and noted that the new version will step up the love story between Rocky and Adrian.
“At the end of the day, Rocky is a love story and he could never have reached the final bell without Adrian,” Stallone explained.
The action star wrote the screenplay for Rocky and cast himself in the lead role. The film went on to win the Best Picture Oscar in 1977 and Best Director for John G Avildsen, while Stallone was nominated for Best Actor and Best Writing.
Musicals are no stranger to Stallone, as he wrote and starred in the 1980s flop Rhinestone about singer Jake, played by Dolly Parton, who claims she can make a New York taxi driver Nick (Stallone) into a country music star.
Music from the Rocky soundtrack will be adapted for the stage, including the Rocky theme tune Gonna Fly Now, written by Bill Conti.
Eye of the Tiger and other notable tracks will also be used.
Commenting on the show, Wladimir Klitschko said: “Seeing Sylvester Stallone in Rocky when we were kids actually was the reason for us to start boxing in the first place.
“We are very excited to support this theatrical project.”
If it is well-received by theatre critics and the German project, the musical could be translated into English and brought to the Broadway stage.