Co. saves pic with investors, bank, sale-and-leaseback deal
LONDON — Shooting will restart Oct. 24 on “Red Light Runners,” the London car chase thriller starring Michael Madsen and Harvey Keitel that has been on hiatus for two weeks while financing problems were sorted out.
The $15 million movie has been rescued by sales outfit IAC Films, which put together a package including two equity investors, a bank and a sale-and-leaseback deal.
“Red Light Runners,” directed by first-timer Nick Egan, shot for five weeks using cash from an Irish investor, Michael Casey. But that coin ran out before the producers had closed the rest of the financing, so the production was forced to shut down.
The producers — Nigel Warren Green, Michael Wearing, Mark O’Sullivan and Marcus Vinton — rushed into production because they wanted to deliver the movie for release in April to benefit from an extraordinary cross-promotional campaign by car manufacturer Audi.
Audi has pledged $6.6 million in P&A for the movie’s U.K. release, to coincide with the launch of a new car featured heavily in the film. The German company is also expected to put up smaller P&A sums in other European territories.
“Red Light Runners” is the story of a heist by a rogue CIA man, culminating in a car chase around London’s streets. Cast also includes David Carradine, Cillian Murphy, Roy Scheider, Crispin Glover, Kate Ashfield and Peter O’Toole.