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 commitment to his work.
But it seems that the actor’s relationship isn’t the only thing he’s put on the line in the name of fulfilling his Hollywood dream – he’s now thrown one of his properties into the mix, as well.
It can be revealed that the 68-year-old Yellowstone star has mortgaged a 10-acre plot of prime undeveloped coastline – where he had planned to build a new family home – in order to finance the development of his forthcoming Western movie franchise, Horizon.
‘I’ve mortgaged 10 acres on the water in Santa Barbara where I was going to build my last house,’ he told Deadline during a recent interview. ‘But I did it without a thought. It has thrown my accountant into a f**king conniption fit. But it’s my life, and I believe in the idea and the story.’
Costner, who has been desperately trying to bring the four-part movie series to life for more than 30 years now, is thought to 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 Kevin Costner has taken a big gamble by mortgaging one of his properties in order to fund production on his upcoming four-part Western movie series, Horizon
The 68-year-old Yellowstone star has mortgaged a 10-acre plot of prime coastline in California, which sits alongside a home he already owns
Certainly the actor seems to be aware of the great gamble he has taken, telling Deadline that this is the last time he plans to sink his own wealth into a movie project.
‘I’ll tell you what. I’m never gonna do this again. I’m never putting my f***ing money in another movie after these four,’ he fumed.
Costner has an immense property portfolio, including a 160 acre ranch in Colorado just outside Aspen. In California he has three side by side ocean front homes in Carpinteria, plus the 10 acre parcel of undeveloped land which he just mortgaged.
He bought his first property in the town in the late 1980s, the second a decade later and the third in 2017. The parcel of land, which has a tiny cottage on it, was bought in 2006 for $28.5 million. They sold off some 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 property records do not reflect a change of ownership.
Costner is said to have a net worth of around $250 million and was collecting a reported $1.5 million per episode of his hit show Yellowstone, making him the best-paid actor on TV.
Explaining how he came to put his own money into the production he said: ‘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 you head if you will.’
Costner’s decision to pile his own property and money into the production could be seen as somewhat of a last-ditch attempt to get his pet project over the line after what has been a decades-long struggle to see it brought to life.
Costner – who announced earlier this year that he and his wife of 18 years are divorcing – had 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 commitment to his work
The actor revealed that he first had the idea for the epic Western way back in 1988 – and very nearly made the film with Disney at that point, but wanted $5 million more than the company was offering in the budget, and so the project went on the back-burner.
Then in 1996 he started to think about the idea again, began writing with a partner and ended up with a four-film cycle rather than just one movie.
The actor, who won seven Oscars for his feature-length directorial debut, Dances With Wolves, was said to be ‘obsessed’ with telling that story and the same word is being used about his focus on the Horizon movies.
‘I don’t know why but I have not let go of this one,’ he told Deadline. ‘I’ve pushed it into the middle of the table three times in my career and didn’t blink. This is my fourth.’
It’s an epic undertaking, with over 170 speaking parts, a time frame which spans the entire Civil War, a star-studded cast that features the likes of Sienna Miller, Jamie Campbell Bower, and Sam Worthington – and a very splashy budget to match.
But such is Costner’s unwavering determination to get this movie made that he has given up all fees for acting, writing, directing, and producing the movie series – while also putting up his own home as collateral to get it financed.
The first of Costner’s Horizon movies is set to be released at the end of this year – and it remains to be seen whether his gamble is going to pay off at the box office.
Costner’s decision to pile his own money into the production could be seen as somewhat of a last-ditch attempt 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-length directorial debut, Dances With Wolves (seen), was said to be ‘obsessed’ with telling that story and the same word is being used about his focus on the Horizon movies
So will the films stand as the final testament to a stunning career – or are they going to prove his ultimate, hubristic over-reach?
While critics might view Costner’s apparent stubbornness as the latter, he insists that his personal investment in the movie series is anything but a gamble, telling Deadline: ‘I’m not a gambler. People might look at this and say: “Oh, this is a gamble.”
‘And I go: “Well, I guess it is but do I want to go to Vegas and gamble?” No, I’m not that kind of gambler. I gamble on the love of story. I’m gambling on people, in a sense. I can’t make them go to the theater but if they get there I’m going to try to take care of them the best I possibly can.
‘That’s what I count on, like that guy at the campfire.’
It seems no coincidence that as Costner has focused on this colossal filmic enterprise, his marriage has fallen apart, leaving the star facing a second expensive divorce.
And at the same time his starring role on Yellowstone, the most successful drama on TV, 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 transpired which have resulted in Mr Costner having to participate in a dissolution of marriage action.’
He has hired lawyer Laura Wasser already but as a California resident, where assets are divided along 50/50 lines he has much to lose (although there is a pre-nup.)
Some websites reported last month that Costner had impregnated a co-worker on Yellowstone but the rumors were denied as ‘absolutely not true and defamatory.’
Another suggestion is that Christine dumped Costner, once one of the world’s most desirable men, because he was unwilling to scale back on his schedule.
