Grudge Match

In Grudge Match, De Niro and Stallone play Billy "The Kid" McDonnen and Henry "Razor" Sharp, two local Pittsburgh fighters whose fierce rivalry put them in the national spotlight. Each had scored a victory against the other during their heyday, but in 1983, on the eve of their decisive third match, Razor suddenly announced his retirement, refusing to explain why but effectively delivering a knock-out punch to both their careers. Thirty years later, boxing promoter Dante Slate Jr., seeing big dollar signs, makes them an offer they can't refuse: to re-enter the ring and settle the score once and for all.  But they may not have to wait that long: on their first encounter in decades, their long-festering feud erupts into an unintentionally hilarious melee that instantly goes viral. The sudden social media frenzy transforms their local grudge match into a must-see HBO event. Now, if they can just survive the training, they may actually live to fight again.  

This movie is pretty much exactly what you saw in the trailer.  There are age jokes and assorted laughs.  The movie is incredibly formula in every way and they go out of their way to pull every possible heart string that they can.  However, the movie is still enjoyable across the board and you care about how it's going to all play out knowingly for the characters and you find yourself rooting for everyone.

I'd somewhat recommend people checking this movie out.  It's a decent watch but there are definitely better choices.