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Tony Award-winning librettist Thomas Meehan (who has steered such movies as The Producers, Hairspray and the current Young Frankenstein to Broadway) is currently writing the book (based on the first film's Stallone-penned screenplay), with songs by Tony winners Lynn Ahrens and Stephen Flaherty (Ragtime, Seussical). Yet another Tony winner, Joe Mantello (Angels in America, Take Me Out), is attached to direct.
This project has been floating around the rumor mill for a while now, but this appears to be the first time someone is claiming it. Obviously, no casting is in place yet, but it is amusing that Meehan makes a point to say Stallone would not be in it (like that would happen ... remember Rhinestone?). In theory, I suppose this story could be musicalized (here's an idea: "Yo Adrian", a love/rap song!), yet they risk losing its gritty realism if they get to splashy with it. In other words, no Cirque du Soleil-esque aerial ballet during "Gonna Fly Now".
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Links via Playbill.com and Imdb.com.
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