Will Ferrell Turned Down $29 Million for an Elf Sequel — Here’s Why

Will Ferrell says he once walked away from a huge paycheck to avoid making a sequel he didn’t believe in.

During an interview for The Hollywood Reporter’s comedy issue, the actor talked about why an Elf 2 never happened, even though a script existed and he was offered $29 million to return as Buddy.

Ferrell said the idea of doing another movie didn’t feel right to him. He explained that the sequel felt too similar to the first film, and he didn’t want to promote something he didn’t believe in.

He said, “I would have had to promote the movie from an honest place, which would’ve been, like, ‘Oh no, it’s not good. I just couldn’t turn down that much money.’ And I thought, ‘Can I actually say those words? I don’t think I can, so I guess I can’t do the movie.’”

Over the years, fans have asked him if he would ever revisit the character. Back in 2017, during an appearance on Watch What Happens Live, he joked about it before quickly saying no.

Reports over the last decade show that director Jon Favreau and other cast members have also spoken about the possibility of a sequel. At different times, some seemed open to it, while others suggested it wasn’t likely. More recently, Favreau said he doesn’t see a story that would work as a follow-up, calling the first film complete on its own.

Even with all the interest from fans, Ferrell has stayed consistent. He has said many times that he only wants to do sequels when there is a strong reason to continue the story, and he didn’t feel that was the case with Elf.

Have something to add? Let us know in the comments!