Elf is widely considered one of the best Christmas movies of all time, right? So it’s only natural for the idea of a sequel to be kicked around and it was! In fact, Will Farrell was offered $29 million to do it and turned it down! WHY!!!???
“That’s what was on offer for it. But I killed the idea of a sequel. I never liked it — $29 [million] does seem a lot of money for a guy to wear tights, but it’s what the marketplace will bear,” Ferrell told The Guardian. “It’s insane, but it’s not my call. The studios perpetuate it and they make it hard to say no.”
He said turning down the money wasn’t as hard as it sounds. “It wasn’t difficult at all,” he continued. “I remember asking myself: could I withstand the criticism when it’s bad and they say, ‘He did the sequel for the money?’ I decided I wouldn’t be able to. I didn’t want to wander into an area that could erase all the good work I’ve done – but you watch, I’ll do some sequel in the future that’s crap.”
Co-star James Caan explained that might not be the only reason he didn’t want to do it. The other reason is because Will didn’t get along with director Jon Favreau. In an interview with a Cleveland radio station he said: “We were gonna do it [a sequel] and I thought, ‘Oh my god, I finally got a franchise movie, I could make some money, let my kids do what the hell they want to do.’ And the director [Favreau] and Will didn’t get along very well. So Will wanted to do it. He didn’t want the director, and he had it in his contract. It was one of those things.”