New Delhi, Delhi, India

Hollywood star Sylvester Stallone announces retirement from his famous Rocky character as he is ready to hang his gloves. He revealed the same in an Instagram video Wednesday as he said that he is prepared to walk away from playing the iconic character, referring to his latest appearance in the recently released ‘Creed II’ as his "last rodeo."

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In the video, you can hear him say: "I thought Rocky was over in 2006 and I was very happy with that. And then all of a sudden this young man presented himself and the whole story changed," he added, pointing to his ‘Creed’ co-star Michael B. Jordan.

He added: "It went on to a new generation, new problems, new adventures," as he filmed it on a beach, next to a bonfire, on his last day making ‘Creed II’. 

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For those who haven’t followed the ‘Creed’ films, they are a continuation of the Rocky story, following the retired champ as he faces middle age and trains a new protege.

Sylvester admitted that he couldn’t be happier with the way things turned out. He said, "As I step back, as my story has been told, there is a whole new world that's going to be opening up for the audience, for this generation." 

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He now wants Jordan to "carry the mantle." 

He sounded sad making this move and said, "It's been my Ultimate privilege to have been able to create and play this meaningful character," he wrote. "Though it breaks my heart, Sadly all things must pass... and end."

The first Rocky movie won three Academy Awards for best picture, best director and best film editing. Sylvester has been nominated three times for an Oscar for his role in the Rocky series.