Nacho Libre is loosely based on the story of Fray Tormenta ("Friar Storm"), aka Rev. Sergio Gutierrez Benitez, a real-life Mexican Catholic priest who had a 23-year career as a masked luchador. He competed in order to support the orphanage he directed. The producers are Jack Black, David Klawans, Julia Pistor, and Mike White.
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A movie about hope, sacrifice, and a little bit of Lucha libre with Jack Black rubbed into it.
Overall "Nacho Libre" felt like it was dragging it's feet into the ring. But this movies strength comes from it's subtle humor and the "realistic" feel of the settings. You really feel sorry for Nacho and the kids at the orphanage. Which makes you root for Nacho even more when he tries to become a Luchador.