The city of Los Angeles announced a $50,000 reward Wednesday for information that helps solve the 32-year-old murder of the flamboyant boxing manager and gym owner who helped inspire a character in the "Rocky" movies.

The City Council approved the reward for information leading to an arrest and conviction in the 1977 slaying of Howard Steindler. Police said robbers who rear-ended his gold Cadillac Seville may have abducted the 72-year-old man when he pulled over a block from his home in Encino.

Steindler was found beaten, robbed and smothered in his car. His jewelry, including a diamond-and-gold ring in the shape of a boxing glove , was never found, but someone mailed his car keys and wallet to his wife after his death.

His daughter, Carol Steindler Ferris of Thousand Oaks, said she believed he was killed while resisting the robbers.

AP