During a cover story for The Hollywood Reporter‘s comedy issue, the 54-year-old actor discussed his decision to say no to a sequel to director Jon Favreau‘s beloved 2003 holiday film that also starred James Caan and Zooey Deschanel.
According to THR, a script had been written for the follow-up installment, and Will was offered a whopping $29 million to reprise his role as Buddy the Christmas elf. However, the star ultimately decided he wouldn’t feel proud to make the second film, as it seemed to him as though it was just rehashing the original magic.
“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 candidly. “And I thought, ‘Can I actually say those words? I don’t think I can, so I guess I can’t do the movie.'”