Will Ferrell said he was offered $29m to star in a sequel to Elf but turned it down because he didn’t believe in its premise.
In a new interview with The Hollywood Reporter, the 54-year-old Saturday Night Live alum said he thought the sequel’s plotline was too similar to the first Elf movie.
Ferrel has previously also dismissed the possibility of an Elf sequel, saying it was “absolutely not” going to happen.
James Caan, who plays Ferrell’s biological father in Elf, has claimed that Ferrell and Favreau don’t get along with each other.