Kevin Costner took a financial gamble with his new Western epic, "Horizon: An American Saga." He admitted just how much money he's put up for his passion project.
Kevin Costner took a gamble for his latest Western epic, "Horizon: An American Saga."
The film premiered over the weekend at the Cannes Film Festival in France, where Costner was accompanied by five of his children: Hayes, Grace, Annie, Cayden and Lily. He is also father to two more sons, Joe and Liam.
"Horizon" earned a 10-minute standing ovation, which must come as somewhat of a relief to Costner, who put millions of dollars of his own money into the project.
As he told GQ in their latest cover story, Costner has been trying to get the movie made since 1988 and ended up funding it himself.
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"I know they say I’ve got $20 million of my own money in this movie," Costner told the outlet. "It’s not true. I’ve got now about $38 million in the film. That’s the truth. That’s the real number."
The $20 million number came out during Costner's divorce proceedings from ex-wife Christine Baumgartner.
In court documents obtained by Fox News Digital, Baumgartner's legal team explained how Costner expected to receive a "waterfall" of funds from "Horizon" after his initial investments.
"Kevin's total compensation for acting, producing, and directing in Horizon 1 is approximately $12,000,000, and for Horizon 2 is approximately $12,000,000, most of which he voluntarily deferred," court documents stated.
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"Kevin estimates that this money will ‘waterfall’ back to him starting in late next year. Kevin also has a profit participation in Horizon 1 and 2, which is yet another source of income."
Costner also mortgaged 10 acres of his $50 million, oceanfront Santa Barbara property to ensure proper funding for the project, Deadline reported.
"I’ve mortgaged 10 acres on the water in Santa Barbara where I was going to build my last house," Costner told the outlet. "But I did it without a thought. It has thrown my accountant into a f---ing conniption fit. But it’s my life, and I believe in the idea and the story."
Costner told GQ he does have the help of two outside investors, whose names he did not disclose, and he is partnered with Warner Bros for theatrical distribution.
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Back in 2003, the "Field of Dreams" star was set to make the film with Disney but couldn’t come to a budget agreement related to $5 million.
After that, what started as one script turned into four with the help of screenwriter Jon Baird.
The shift to a multi-film epic is something Costner considers par for the course for himself.
"And what’s ironic, or if not ironic, maybe a better word is what is typical of me is that if my psychiatrist looked at me and they said, ‘Kevin, let me get this straight. Nobody wanted to make one, right? At least at that point when you stopped, they didn’t want to make it?’ I said, ‘Yeah.’ And she goes, ‘Why do you then go out and write four more? Why do you go and do that?’" he told GQ.
"And I guess the answer is: Because I believe. But I can also see that psychiatrist going, ‘Yeah, but no one wanted one, and you just did four.’ As if I didn’t hear her the first time. And I can’t defend that psyche. I can’t defend anything other than the story just kept getting better and better for me."
It’s not the first career gamble Costner has taken.
After he earned acclaim for his role in 1988’s "Bull Durham," he went on to produce, direct and star in another Western epic, "Dances with Wolves," which was nominated for 12 Oscars, and won seven, including best picture and best director.
"Dances with Wolves" was one of the first projects he took a gamble on, not only as a producer but as a director.
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"I put all my money into this thing, and I actually asked three other directors to direct it before me. They each had kind of very pronounced ideas about what they wouldn’t leave in the movie. They’re very well-known directors," Costner explained to Deadline. "I finally directed it by default. What I knew was I wasn’t as good as any of those other directors. But I wasn’t gonna leave anything out."
He revealed to GQ that before he did "Dances," he "had a chance to do ‘The Hunt for Red October’ for more money than I’d ever seen."
"I felt like Gollum with the ring. I thought, ‘Oh my God, I’m going to take that ring.’ But I made this promise that I would go do this movie. I had to watch my own movie," he said.
The 10-minute standing ovation for "Horizon" in Cannes over the weekend moved Costner to tears, and he addressed the crowd afterwards.
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"I'm sorry you had to clap that long for me to understand that I should speak," Costner said after taking the microphone, per Variety. "Such good people, such a good moment – not just for me, for the actors that came with me, for people who believed in me, who continued to work.
"It's a funny business, and I'm so glad I found it. There's no place like here. I'll never forget this, neither will my children." His son Hayes makes his acting debut in the film.
Costner continued, "I made this – it's not mine anymore, it's yours. I knew that the minute this was over, and that's the way it should be. I think movies aren't about their opening weekends, they're about their life… about how many times you're willing to share them, and I hope that you do share this movie with your sweethearts, with your children. I feel so lucky, I feel so blessed. And, there's three more."
During a press conference at Cannes on Monday, Costner said he didn't know why it was so hard to get financing for the film.
"You saw the movie. I don’t know why it was so hard to get people to believe in the movie that I wanted to make," he said, according to Variety. Costner is currently trying to get funding for part three of the "Horizon" saga. "I’ve knocked on every boat in Cannes to help me," Costner said. "‘Oh come, we’ll have a picture.’ No, come get your checkbook out. Let’s talk money!"
"Horizon" premieres in the U.S. on June 28, with a second installment due on Aug. 16.
