Kevin Costner makes $50 MILLION gamble on Western movie series
Kevin Costner’s 18-year marriage came to a sad and dramatic end this year amid a flurry of speculation that his wife had grown tired of his obsessive dedication to his job.
But it seems the actor’s relationship isn’t the only thing he’s risked in the name of fulfilling his Hollywood dream — he’s now thrown one of his properties into the mix, too.
It may be revealed that the 68-year-old Yellowstone star has mortgaged a 10-acre parcel of prime undeveloped shoreline – where he planned to build a new family home – to fund the development of his upcoming Horizon western film franchise.
“I took out a mortgage on 10 acres on the water in Santa Barbara where I would build my last home,” he told Deadline during a recent interview. But I did it without thinking. It has put my accountant in a frenzied conniption fit. But it’s my life and I believe in the idea and the story.’
Costner, who has spent more than 30 years desperately trying to bring the four-part film series to life, would have personally raised up to $50 million of Horizon’s $100 million budget with the move — but the question is: at what great personal cost?
Yellowstone’s Kevin Costner has taken a big gamble by taking out a mortgage on one of his properties to finance the production of his upcoming four-part Western film series, Horizon.
The 68-year-old Yellowstone star has mortgaged a 10-acre lot on California’s best coastline, next to a home he already owns
The actor certainly seems to be aware of the big gamble he took in telling Deadline that this is the last time he intends to put his own wealth into a movie project.
‘I’ll tell you something. I’m never gonna do this again. I’m never putting my goddamn money into another movie after these four,’ he gasped.
Costner has a huge real estate portfolio, including a 160-acre ranch in Colorado, just outside of Aspen. In California, he owns three adjoining oceanfront homes in Carpinteria, plus the 10-acre parcel of undeveloped land he just mortgaged.
He bought his first property in the city in the late 1980s, the second a decade later, and the third in 2017. The lot, which includes a small house, was purchased in 2006 for $28.5 million. They sold part of it in 2009 and put the remaining 10 acres up for sale for $60 million in 2017.
The property no longer appears on the open market and the ownership records do not reflect a change in ownership.
Costner is said to have a net worth of around $250 million and reportedly earned $1.5 million per episode of his hit show Yellowstone, making him the highest paid actor on TV.
Explaining how he put his own money into the production, he said, “Ultimately, 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 like.’
Costner’s decision to pour his own property and money into the production could be seen as a sort of last-ditch effort to get his favorite project over the line after a decades-long struggle to see it come to life.
Costner — who announced earlier this year that he and his wife of 18 are divorcing — planned to build a new family home on the land (pictured)
Costner’s marriage to Christine Baumgartner came to a sad and dramatic end this year amid a flurry of speculation that his wife had grown tired of his obsessive dedication to his job.
The actor revealed that he first had the idea for the epic western in 1988 – and at the time almost made the movie with Disney, but wanted $5 million more than the company offered in the budget, and so the project went ahead. the rear burner.
In 1996, he started thinking about the idea again, started writing with a partner, and ended up with a cycle of four films instead of just one film.
The actor, who won seven Oscars for his feature debut Dances With Wolves, is said to be “obsessed” with telling that story, and the same word is used for his focus on the Horizon films.
“I don’t know why, but I didn’t let this one go,” he told Deadline. “I pushed him to the center of the table three times in my career and didn’t blink. This is my fourth.’
It’s an epic endeavor, with over 170 talking parts, a time frame that spans the entire Civil War, a star-studded cast that includes Sienna Miller, Jamie Campbell Bower and Sam Worthington – and a very splashy budget.
But Costner’s determination to get this movie made is so great that he’s given up all the acting, writing, directing and producing fees for the film series – while also putting his own house up as collateral to get it financed.
The first of Costner’s Horizon movies will be out late this year – and it remains to be seen if his gamble will pay off at the box office.
Costner’s decision to put his own money into the production could be seen as something of a last-ditch effort to get his project over the line after a decades-long struggle to bring it to life.
The actor, who won seven Oscars for his feature debut, Dances With Wolves (seen), is said to be “obsessed” with telling that story, and the same word is used for his focus on the Horizon films.
So will the films be the last proof of a stunning career – or will they prove his ultimate, overconfidence?
While critics may view Costner’s apparent stubbornness as the latter, he insists his personal investment in the film series is anything but a gamble, telling Deadline, “I’m not a gambler. People can look at this and say, “Oh, this is a gamble.”
And I say, “Well, I think so, but do I want to go to Vegas and gamble?” No, I’m not much of a gambler.
I bet on the love of stories. I bet on people, in a way. I can’t let them go to the theater, but when they do get there, I’m going to try to take care of them the best I can.
“I’m counting on that, like the guy at the campfire.”
It seems no coincidence that while Costner has focused on this colossal cinematic venture, his marriage has fallen apart, leaving the star facing a second costly divorce.
And at the same time, his starring role in Yellowstone, TV’s most successful drama, has also apparently come to an end amid mud-slinging and conflict.
Christine Baumgartner filed for divorce on May 1, citing “irreconcilable differences.”
In a statement, his representative said: “It is with great sadness that circumstances beyond his control have arisen which have resulted in Mr. Costner having to participate in a dissolution of the marriage.”
He’s already hired attorney Laura Wasser, but as a resident of California, where assets are split on 50/50 lines, he has a lot to lose (though there’s a pre-nup).
Some websites reported last month that Costner had impregnated a colleague in Yellowstone, but the rumors were denied as “absolutely untrue and defamatory.”
Another suggestion is that Christine dumped Costner, once one of the world’s most desirable men, because he wasn’t willing to scale back his schedule.