Kevin Costner mortgaged his $50M home to fund new movie series
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Kevin Costner is investing more than just his time in his latest film project.
In a recent interview with Deadline, Costner admitted to taking out a mortgage on a rather sizable property, in order to fund a portion of his upcoming project, "Horizon: An American Saga."
"I’ve mortgaged 10 acres on the water in Santa Barbara where I was going to build my last house," Costner said. "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."
The story takes place during the expansion of the American West, both before and after the Civil War. While it seems like a major risk for Costner to fund the project himself, this isn't the first time he's done so.
Costner is working on a new project, "Horizon: An American Saga," which he is funding himself. (Photo by Daniele Venturelli/WireImage / Getty Images)
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In the past, Costner has put up his own money to fund the 1990 movie, "Dances with Wolves," "The Postman" in 1997, and "Black or White," in 2014. Out of the three projects, "Dances with Wolves" was the most critically-acclaimed, earning Costner two Academy Awards, for best director and best picture, as well as a nomination for best actor in a leading role.
"You hear your name called, and it’s a bit of a blur. It’s a forever moment, but it’s just a moment," he said. "I was so grateful to the Academy, but I’ve tried to not let awards inform my work."
"Dances with Wolves" was the first movie Costner directed, however it wasn't something he ever anticipated doing.
"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. "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."
While Cosnter won two Academy Awards for "Dances with Wolves" in the best directing and best picture categories, he never intended to direct the movie. (Tig Productions/Getty Images / Getty Images)
This wasn't the last time Costner would have trouble finding someone who shares his passion about a particular project, as finding someone to make "Horizon" proved to be just as difficult.
Costner further explained he's been trying to get this movie made since 1988, when it was still only one movie. He had a couple of close calls including one with Disney after the release of "Open Range," however it didn't feel right.
"Eight years later, I started thinking about the story, started writing with a partner, and it ended up being four screenplays," he said. "So I reverse-engineered everything from 1988. I thought it was really good. But I still couldn’t get anybody to make it."
He continued: "At the end of the day, I’m a storyteller, and I went ahead and put my own money into it. I’m not a very good businessman, so, scratch your head, if you will. I don’t know why, but I have not let go of this one. I’ve pushed it into the middle of the table three times in my career and didn’t blink. This is my fourth."
Costner is excited for fans to finally see the project he has been working on since 1988. (Europa Press Entertainment/Europa Press via Getty Images / Getty Images)
Costner shared his excitement about the release of "Horizon" on his Instagram, posting a photo of a chair on set, with the mountains in the background.
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"We're deep into the production of #HorizonFilm, and, I have to tell you, I haven't felt this way about a movie since we were making Dances With Wolves," he wrote. "Can't wait to share it with all of you."
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There is no set release date for the first film, however the actor would like to premiere it at the Venice Film Festival in the fall, saying "That’s what I want if I get the chance. I love going to Europe."
While he has found success funding his own projects in the past, it doesn't seem likely Costner will continue on in this trend he's set for himself.
Costner says he will never put his own money into a movie again after he's done with these next four films. (Photo by Richard Bord/Getty Images for Cannes Lions / Getty Images)
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"I make these movies for people, not for myself. I author every moment in them as if I’m protecting their experience, protecting the time that they take to come to the theater," Costner said. "That’s how I look at it. But I’ll tell you what. I’m never gonna do this again [laughs]. I’m never putting my f---ing money in another movie after these four."