Back in March, we reported that the long-awaited Ip Man 3 is finally moving forward, with Donnie Yen returning to star as the title character, and heavyweight boxing legend Mike Tyson also coming aboard. Today, MovieClips has the first domestic trailer for this highly-anticipated sequel, with Well Go USA setting a January 22, 2016 release date. Ip Man 3 will be going up against Dirty Grandpa and The Boy in its new release date.

Our original report from March revealed that the producers had planned on using a CGI version of late martial arts legend Bruce Lee, which certainly caused some controversy. Just one week later, it was reported that Bruce Lee's estate was trying to stop the production from using this CGI version. While we never got an update about the lawsuit filed by Bruce Lee's family, the film's IMDB page lists Kwok-Kwan Chan (Kung Fu Hustle, Shaolin Soccer) as portraying Bruce Lee, so it seems that both sides came to some sort of an agreement.

RELATED: Donnie Yen Talks Mike Tyson's Death Punch and Defying Chinese Stereotypes in Movies

2010's Ip Man and 2011's Ip Man 2 are both based on the true story of Ip Man (Donnie Yen), the martial arts master who created the style known as Wing Chun, whose most famous student was Bruce Lee. The first two movies did not feature Bruce Lee as a character, focusing on Ip Man's early years in China. The producers initially went with the CGI version of Bruce Lee, because they could not find an actor they felt was right to portray him, but it seems they have found him now with Kwok-Kwan Chan.

The real Ip Man lived from 1893 to 1972, but it's unclear when Ip Man 3 is exactly set, or how Bruce Lee will be introduced in this sequel. Our earlier report from March revealed that Mike Tyson is playing the substantial role of a property developer who moonlights as a vicious street fighter. While it isn't clear from this trailer why this character squares off with Ip Man, the footage from this trailer teases this could be one epic fight.

The sequel co-stars Lynn Hung, Jin Zhang, Patrick Tam, Kent Cheng, Meng Lo, Ka-Yan Leung and Karena Ng. Wilson Yip, who directed the first two Ip Man movies, returns to direct from a script by Lai-yin Leung, Chan Tai-Li and Edmond Wong. Take a look at this action-packed trailer, and you can also check out the international trailer released last month.