Sylvester Stallone approved of upcoming film centred on Rocky III release date

Sylvester Stallone has approved of an upcoming cinematic ode to the release of Rocky III.

Filmmaker James DeMonaco is preparing to release This Is The Night, a coming-of-age film set in Staten Island on 28 May 1982 - the day the third instalment of the sports drama was released.

The Purge director revealed he went to Stallone's house to show him the movie, and paid tribute to the "wonderful guy".

"It was the greatest moment of my life," DeMonaco told HeyUGuys. "He really liked the movie.

"The movie's a love letter to him. If you like Rocky, you'll like my movie."

While at Stallone's house, the 75-year-old showed DeMonaco some behind-the-scenes footage and gave some insight into the upcoming Rocky Vs. Drago - The Ultimate Director's Cut of Rocky IV, which hits theatres in November, which DeMonaco "can't wait" to see.

This Is The Night changed its name from Once Upon A Time In Staten Island to avoid an unintended competition with Quentin Tarantino's Once Upon A Time In Hollywood, but the New York borough remains at the centre of events on the single May night the film focuses on.

"In Staten Island, where we worshipped at the feet of Sylvester Stallone, it was a very big night," DeMonaco said. "I'm really proud of it (the movie), it's a complete departure from The Purge movies.

"It's my ode to the theatre-going experience, the sanctity of going to a movie theatre and how it can move people."

The upcoming movie stars Naomi Watts and Bobby Cannavale. No release date has been confirmed.