Kevin Costner Mortgages Santa Barbara Property to Finance $100 Million Film Franchise

Kevin Costner has admitted he mortgaged his four-acre property in Santa Barbara, California, to finance the $100 million film franchise, which has been 30 years in the making.

In an interview with Deadline, the “Yellowstone” star said he planned to build a new family home worth about $145 million.

“I have mortgaged four acres in Santa Barbara where I was going to build my last house,” he said. “But I did it without thinking too much. It upset my accountant, but it’s my life and I believe in the idea and the story.”

This is in line with rumors about why his 18-year marriage came to an end earlier this year. There was much speculation that his wife Christine was tired of his constant commitment to work. His relationship is believed to have been ruined not only because of his job, but also because he has mortgaged one of his most valuable assets in the name of fulfilling his Hollywood dream.

The reason for the decision – the two-time winner of the Academy Award wanted to finance the development of his upcoming franchise “Horizon”.

Costner has been desperately trying to revive the four-part film series for more than 30 years, and is believed to have personally raised up to $50 million of the film’s $100 million budget.

Either way, the actor seems to be aware of the big “gamble” he’s taken, stating that this is the last time he plans to invest his fortune in a film project: “I’ll tell you one thing – I’ll never do it again. I’ll never put my money in another movie after these four.”

Costner reportedly has a net worth of around $250 million and earned $1.5 million per episode of his hit series Yellowstone, making him the highest paid actor on television.