CANNES — Multimillionaire financier Guy Hands is offering to put up P&A costs in the U.S. and the U.K. for his film “Tabloid,” which premieres in the Cannes market today.
Hands is a buccaneering venture capitalist who heads Principal Finance Group, the London-based private equity arm of Japanese bank Nomura. Recently, he has started funneling a significant amount of his personal wealth into British film production, partly in order to benefit from tax relief.
He has agreed to fund the British and American P&A for “Tabloid” in the hope of tempting a leading distrib to take the film for a fee. Producer Mark Shorrock said Hands is willing to pony up around $1.5 million for the British release, and a proportionately bigger amount Stateside.
The $5 million pic is the first of a three-film slate from Shorrock, with financing from a group of private investors headed by Hands.
“Tabloid,” directed by David Blair, is a Brit satire about a chatshow host who spins out of control. It stars Matthew Rhys, Mary Elizabeth Mastrantonio and John Hurt.
Worldwide sales for “Tabloid” are being handled by Park Entertainment, but Shorrock and Hands intend to arrange the British and North American deals themselves.