cracked:

The real guy’s name was Chuck Wepner. In 1975 he was a liquor salesman in New Jersey by day, boxer by night. And he got the same deal as Rocky. A lottery ticket of a fight that, if he won, would make him the champion of the world. It was considered such a big deal at the time that Wepner made the cover of Sports Illustrated, despite the fact that he looked like this.

Remember how by the end of his climactic fights, Rocky’s face always looked like an animal you’ve never seen before had been run over by a truck? And the unrealistic amounts of blood leaping off of Rocky’s face in slow motion every time he got punched? Wepner’s boxing nickname was “The Bayonne Bleeder” because his face would spurt blood pretty much the moment a boxing glove touched it (Wepner had more than 300 stitches in his face – he was apparently not the most elusive boxer of his era).

Instead of Apollo Creed, Wepner simply had to face one of the best boxers in the history of human civilization – Muhammad Ali. The champ wanted an easy fight as a warm-up to a real match later, so we’re guessing he was looking at a list and picking between “The Bayonne Bleeder” and a guy named “Brittle Ribs Ranalli.” Ali and Wepner would split the purse 94% to 6% in Ali’s favor.

Just as in Rocky, Ali toyed with Wepner early on and just as in the film, Wepner knocked Ali down, shocking the boxing world.

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Danny Wallace actually went on saying yes to things and ended up joining a group of Assassins and becoming involved in their secret war with the Templars.  I think he also agreed to change his name.