Stallone revs racing pic

Hoping to do for race-car driving what “Rocky” did for boxing, Sylvester Stallone has acquired the rights to produce a film about Formula One racing from entrepreneur Bernie Eccelestone.

Stallone himself negotiated the deal with the U.K.-based racing mogul, who owns the name “Formula One.” The two had been in discussions since they met in England three years ago.

Stallone hopes to lense the film, which he envisions as a four-character drama, in 1998 or 1999. No writer has yet been assigned to pen the script, and it’s not clear whether Stallone will star.

“Boxing and auto racing have always been two of my favorite sports,” Stallone said.

The action star promised the film would deliver “extraordinary insights and glimpses of coverage that are inextricable components to this most passionate of speed sports.”

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