I'm Getting My 'Cobra' Car Back!
We broke the story -- in 2009, Sly learned his custom built 1950 Mercury was about to be auctioned off by a company that provides "on-camera vehicles" for movies.
Sly never directly accused the company of stealing his ride ... he just wanted the damn thing back -- so he filed a lawsuit to regain possession.
Now, TMZ has learned, Stallone and the company reached a settlement ... under which Sly will regain ownership of the whip ... estimated to be worth more than $250,000.
It's unclear if any money changed hands ... but who cares, Sly's getting his "Cobra" car back!!!