According to Deadline:
The intention is for Jordan to play the grandson of Apollo Creed (played in the early movies by Carl Weathers). Raised in an upper-crust home thanks to the ring riches earned by his grandfather, the young man doesn’t have to box and his family doesn’t want him to. Yet, he has the natural instinct and gifts and potential that made his grandfather the heavyweight champion until Rocky Balboa took his crown in 1979′s Rocky II. Creed’s grandson needs a mentor and turns to Balboa, who is out of boxing completely and not eager to return.
Anyone ever notice that Stallone's most iconic characters (Rocky and Rambo) always have an initial reluctance to participate?
People will give him shit for this, but for as long as Sylvester Stallone continues to hang on to the past, I will continue watching these movies. This is the unspoken promise I made to Sly years ago, while watching Oscar, or as none like to call it, our generation's Godfather.
In related news: While discussing the new Creed movie on Mike & Mike, they decided to play the scene from Rocky 3 when Micky dies. And you can't understand a single word Stallone says. Then I went on YouTube, found this video which adds subtitles to that very scene, and it's the best goddamn thing I'll watch all day.