Why Will Ferrell Said No to $29 Million for an ‘Elf’ Sequel

Will Ferrell once shared why he turned down a huge payday to make a sequel to the 2003 holiday favorite Elf. In a cover story for The Hollywood Reporter’s comedy issue, the 54-year-old actor explained that even though he was offered $29 million to return as Buddy the Elf, he didn’t feel right making a second film.

According to THR, a script had been written for the sequel, but Ferrell felt it would just repeat the story of the original movie. “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 said.

“And I thought, ‘Can I actually say those words? I don’t think I can, so I guess I can’t do the movie.’” Ferrell added.

Fans have asked Ferrell about sequels in the past. In 2017, during an appearance on Watch What Happens Live, he was asked if he would ever make a sequel to Elf or A Night at the Roxbury. He joked, “I’ve got great news for you,” before quickly adding, “No.”

Over the years, director Jon Favreau and other cast members have also commented on the possibility of a follow-up. In 2013, reports suggested Favreau was interested in a sequel called Elf 2: Buddy Saves Christmas, but Ferrell repeatedly said he was not interested. By 2023, Favreau confirmed he had no plans to continue the story, saying, “That particular film, I don’t know what story would be told after that. It’s very complete.”

Ferrell has said in multiple interviews that he usually avoids sequels unless there is a story that truly justifies it. In his view, Elf already told a complete story, and revisiting it just for money wouldn’t feel right.

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