Liev Schreiber and Naomi Watts are set to co-star in a boxing drama called "The Bleeder" -- not to be confused with "The Fighter" or "The Wrestler" -- according to Variety.

"Mad Men" star Christina Hendricks is also joining the cast.

The real-life drama centers on former heavyweight Chuck Wepner who got to box 15 rounds with Muhammad Ali. The same story inspired Sylvester Stallone to write his script for "Rocky," which won the best picture Oscar for 1976 and spawned a seemingly endless franchise and countless imitators.

Although it hasn't been stated, Schreiber will likely play Wepner.

Jeff Feuerzeig ("The Devil and Daniel Johnston") is directing from a script he co-penned with Jerry Stahl ("Permanent Midnight").

Watts was recently seen n the Valerie Plame thriller "Fair Game," and is currently shooting "J. Edgar," alongside Leoardo DiCaprio, for director Clint Eastwood.

Schreiber recently starred in "Repo Men" with Jude Law and "Salt," opposite Angelina Jolie.

A couple in real life (they have two children together), Schreiber and Watts previously starred together in "The Painted Veil" with Edward Norton.

You can watch the actual Wepner-Ali bout here.