One evening, by chance, Zeffirelli watched "The Champ", the 1931 film by King Vidor starring Wallace Beery and Jackie Cooper, on television. He remembered how much the film had moved him when he had seen it first as a child, and he realized that the story of a son who unconditionally loves his unlucky father still touched him deeply as an adult. He decided to create a new version of it and contacted MGM, which had produced the 1931 film and still held the rights.
For the lead role, Zeffirelli initially wanted Steve McQueen, who was unavailable at the time. Ryan O'Neal, along with his son Patrick, was considered; but the final choice was Jon Voight, who had just won an Oscar for his performance in "Coming Home". He was paired with Faye Dunaway. However, the real standout of the film turned out to be young Ricky Schroder, who won the audience over and received a Golden Globe for Best New Actor.