Kevin Costner Reportedly Faces Financial Crisis Over 'Horizon' Flop After Investing $38M In The Film

Kevin Costner reportedly faces a severe financial crisis after his $100 million project "Horizon: An American Saga" flopped at the box office.

The film's poor performance has allegedly put Costner's Santa Barbara estate at risk and caused a delay in future installments of the movie.

Kevin Costner invested $38 million of his own money in the film and is also fresh out of a costly divorce, where he was ordered to pay $63,209 monthly in child support.

According to Radar Online, Costner's bold move to invest personal funds in his $100 million, four-film project, "Horizon: An American Saga," has put his lavish Santa Barbara estate at risk.

Despite the initial hype and an impressive 11-minute standing ovation at the Cannes Film Festival, the first film in the series only managed to pull in $11 million during its opening weekend.

This poor performance has led New Line Cinema to delay the release of the second installment, initially scheduled for August. It has also inadvertently cast a shadow over the entire project and threatens Costner's prized estate.

Sources close to the 69-year-old actor claim that he ignored multiple warnings against using his funds and ended up pouring $38 million of his savings into the project.

An insider said: "Kevin could be wiped out by this disaster. Everyone warned him not to invest his own money, but he ignored the advice and ended up sinking $38 million of his own cash into it. Now he can kiss all that money goodbye!"

As "Horizon 1" teeters on the brink of box office failure, Costner reportedly stands to lose a significant chunk of his fortune.

A source told Radar that despite the actor admitting to being "not a very good businessman," he chose to ignore the guidance of experts, including his own accountant.

"Kevin mortgaged his ten-acre Santa Barbara ranch on the water to fund this dream," the source said.

"He's stubborn and refuses to listen to anyone," they continued. "No one believes in themselves more than Kevin, even though he became a laughingstock after his flop 'Waterworld.'"

Costner is reportedly disheartened after "Horizon," which currently has a score of 48% on Rotten Tomatoes, bombed at the box office.

An insider told Life & Style magazine, "He really believed in these movies, still does, and is taking the news pretty hard."

In Costner's earlier comments to Entertainment Weekly, he acknowledged that while a successful "Horizon" would boost his ego, its underperformance wouldn't devastate him.

"I've lived with movies and what happens to them on their opening weekend," he said. "If we put so much pressure on that, we're bound to be disappointed."

He continued, "I'm really happy that 'Horizon' looks like what it's supposed to look like, and that's the way it'll look the rest of its life. And that's really important to me in this process."

Costner concluded his remarks, saying, "Would I love that it would be highly, highly successful? Of course, I'd like that. My ego would like that; everyone would like that. But I am happiest that the movie that you and I are talking about looks the way I want it to look."

Costner has postponed the release date of his Western film "Horizon: An American Saga- Chapter 2" from its scheduled date of August 16.

According to The Hollywood Reporter, the film was removed from the release calendar for the year after the first film, "Horizon: An American Saga—Chapter 1," performed poorly in its theatrical debut in late June.

After discussions between the production and distribution companies, Costner's Territory Pictures and New Line Cinema decided to postpone the second film.

This would give the first film more time to grow its audience base, leading to better numbers when Chapter 2 finally drops in theatres.

To help with audience growth, Costner and New Line Cinema will release Chapter 1 to home audiences through Premium VOD on July 16 and later on MAX. The film will also remain available to watch in theaters for the time being as they work on marketing and promotion.

"Horizon Chapter 1" opened in theaters over the June 28-30 weekend and earned just $11 million, a shockingly low number. The film, which has a run time of three hours and one minute, had a $100 million budget and was expected to rake in more significant numbers.

Unfortunately, "Horizon 1's" debut was affected by a poor B- CinemaScore and negative reviews from film critics. By its second weekend, the film's earnings fell by another 51 percent to bring in $5.4 million and a 10-day domestic total of $22 million.

"Horizon 1" also failed to attract overseas viewers and has only earned less than $3 million. The second film cost about $100 million to make, and Costner plans to resume filming the third film later this year. However, he needs to build an audience if the subsequent films are to do any better.