Will Ferrell Turned Down Millions To Make "Elf" Sequel

ELF, Will Ferrell, 2003, (c) New Line/courtesy Everett Collection

Photo: �New Line Cinema/Courtesy Everett Collection

Will Ferrell turned down the opportunity to do an "Elf" sequel, even though he was going to be paid $29 million . . . because the script was too similar to the original.

Will said, quote, "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.' . . .

"And I thought, 'Can I actually say those words? I don't think I can . . . so I guess I can't do the movie."

$29 million? That would buy a lot of candy canes. ;)

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