The comedian revealed that he declined a $29 million offer to star in “Elf 2” because he did not believe in the sequel’s story. The original 2003 film became both a critical and commercial success, cementing Buddy as one of Ferrell’s signature characters.
Will Ferrell Walked Away From a $29 Million Sequel
Looking back on the decision during a 2021 interview with The Hollywood Reporter, Ferrell explained that the script for “Elf 2” simply didn’t convince him. He described the proposed story as “rehashed” and said he could not imagine promoting a film he did not genuinely believe in.
The actor even joked about what the publicity tour would have looked like had he accepted the offer. “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,'” he recalled. After thinking it over, he realized he couldn’t sincerely make that argument, adding, “Can I actually say those words? I don’t think I can, so I guess I can’t do the movie.”
Released in 2003 and directed by Jon Favreau, “Elf” stars Ferrell as Buddy, a human who is accidentally raised by Santa Claus’ elves at the North Pole before traveling to New York City in search of his biological father. The cast also includes James Caan, Zooey Deschanel, Bob Newhart, Ed Asner, and Mary Steenburgen. The family comedy earned nearly $229 million worldwide against a $33 million budget and received widespread praise for Ferrell’s performance.
More than two decades after its release, “Elf” remains a holiday favorite, returning to television schedules every Christmas season and frequently appearing on lists of the greatest modern holiday pictures. Its popularity also inspired a Broadway musical and an animated television special, but despite years of speculation about a follow-up, Ferrell’s decision ensured Buddy’s story would remain a one-film adventure.