Yes, Rocky is coming back, and not as a coach. From what I understand, the 50-something character, played by the now 60-year old Sylvester Stallone will be stepping back into the ring. Thirty years after Rocky, and 16 years after Rocky V, he's back with Rocky Balboa.
The franchise started in 1976 and released a film in every three years until Rocky V, for which they waited for five years. The extra time was apparently not spent in the script room. Stallone, who has written all the movies, directed II, III and IV. So, perhaps they were waiting on original Rocky director John G. Avildsen to complete that "classic" film, The Karate Kid, Part III. I presume the return of Avildsen was meant to recover some of the spark of the original film. How did it turn out? See my crude imdb rating trend analysis below.
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Clearly, there was a tick downward when Avildsen returned to the franchise. Is that his fault? I doubt it. Nonetheless, he won't be around for what has to be the last in the series. Stallone will get to take all the "credit" for this one. And if this film doesn't get any critical acclaim, perhaps Stallone will get some for the next Rambo movie. And, no, by the way, I'm not kidding. These are the movies that make me glad I'm doing this for free, otherwise somebody might make me go see them. I'll sit this one out unless I hear of a miracle Rocky comeback, and not the one that will undoubtedly happen in the movie.