Popeye's training for his boxing match with Bluto by jumping rope with a massive chain. Bluto, who's lazy about everything except sabotage, decides he needs to stop Popeye.
He fills Popeye's heavy bag with iron junk, but Popeye punches it over the fence onto Bluto. Next, he pulls on the springs attached to the wall with a motorcycle, but Popeye pulls so hard he throws Bluto and the cycle through the building and into a well. Popeye is walking -- or actually, prancing -- behind Olive on the way to the match, so Bluto tries a bit more sabotage: first an oil slick, which slows Popeye down briefly, then some quick-dry cement in a puddle.
This gives Popeye cement overshoes, and when he gets to the arena, he's exhausted. Olive stands him up, but Bluto treats him like a punching bag. He's got Popeye on the floor (under the ring), so Olive finally breaks out the spinach. Popeye knocks Bluto through the roof, right into the hospital. The photographers ask for a picture, and Popeye's biceps form the words "THE END."