Five-time world champion boxer Sugar Ray Leonard has announced he's stepping in the ring as part of NBC's boxing reality show "The Contender."

Leonard will serve as an adviser and mentor to hopeful boxing stars in the 16-episode series, Variety says.

The series is being executive produced by Sylvester Stallone, Mark Burnett and Jeffrey Katzenberg. Stallone will also be appearing on camera.

"The way Sylvester Stallone is respected as an icon who represents the greatest fictional boxing character ever created, we needed someone who could get in the ring and represent the best of this sport as an athlete," Katzenberg told Variety. "Sugar Ray's still in amazing shape, and he can really get in the ring and understand the sport."

Finalists in "The Contender" will battle in a live match with $1-million in prize money up for grabs.