Billy used to be a great boxer, but he's settled into a hardscrabble life that revolves around drinking, training horses, and the one bright spot in his existence — his young son, T.J. Although Billy has had custody of T.J. since his wife, Annie, left the family years ago, her return prompts a new struggle for the former fighter. Determined to hold on to his son, Billy gets back into the ring to try and recapture his past success.
When illegal card dealer and recovering heroin addict Frankie Machine gets out of prison, he decides to straighten up. Armed with nothing but an old drum set, Frankie tries to get honest work as a drummer. But when his former employer and his old drug dealer re-enter his life, Frankie finds it hard to stay clean and eventually finds himself succumbing to his old habits.