FFG folding ‘Sorted’ into funding pact

Metrodome to realease Rhys starrer, Brit financier offering tax benefits

LONDON — Future Film Group, an emerging British film financier, has acquired U.K. rights to Alex Jovy’s “Sorted” for release through Metrodome Distribution.

Deal is the latest in a long-term acquisition partnership between the two under which FFG puts up the minimum guarantee and Metrodome covers the P&A.

Metrodome has committed to release “Sorted” on at least 200 screens. The low-budget film, which stars Matthew Rhys, made a strong impact in the market during the Cannes Intl. Film Festival.

FFG is also combining the acquisition with a U.K. tax deal that will increase the benefit to filmmakers. FFG is linked to Factor 8 Films, which uses U.K. tax breaks to generate investment for British film production.

In the past financial year, Factor 8 generated $19.5 million in new money for British films by completing £111 million ($166 million) in tax-driven production deals. Company was involved in the financing of 34 films, including “The Luzhin Defense” and “Beautiful Joe.”

FFG’s strategy is to combine Factor 8’s tax benefit with the acquisition of U.K. rights to offer producers up to 20% of the budget of their films.

Company has also struck a bank deal that will help it offer the tax benefit to producers as advance funding instead of the producers having to wait until the film is complete to apply for the break.

Films that have already profited from this arrangement include “The Body,” starring Antonio Banderas, and “Kevin of the North,” starring Skeet Ulrich.

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