Sylvester Stallone is hanging up his gloves.
The 74-year-old actor will not appear in the upcoming Creed III, according to The Hollywood Reporter.
The actor's rep confirmed to the outlet that he will not star in the forthcoming movie, but no additional details about the actor's decision were shared.
Stallone previously reprised his role of Rocky Balboa in the first two Creed installments, where he served as a mentor to Michael B. Jordan's Adonis "Donnie" Johnson Creed — the son of his former rival, Apollo Creed.
A rep for Stallone did not immediately respond to PEOPLE's request for comment.
Creed III, which is set for a Nov. 23, 2022 release, has locked Jordan, 34, in for his directorial debut.
Alongside reprising his role and directing, PEOPLE's Sexiest Man Alive will also produce the film, THR previously reported in March.
"Directing has always been an aspiration, but the timing had to be right," Jordan said in a statement obtained by the outlet at the time. "Creed III is that moment — a time in my life where I've grown more sure of who I am, holding agency in my own story, maturing personally, growing professionally, and learning from the greats like Ryan Coogler, most recently Denzel Washington, and other top tier directors I respect. All of which sets the table for this moment."
"This franchise and in particular the themes of Creed III are deeply personal to me," Jordan added. "I look forward to sharing the next chapter of Adonis Creed's story with the same responsibility of being its director and namesake."
Tessa Thompson and Phylicia Rashad are also expected to reprise their roles, according to THR.
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