Will Ferrell is attached to star in Netflix’s “The Legend of Cocaine Island,” a scripted remake of the streaming service’s popular documentary of the same name, sources tell Variety.
Peter Steinfeld will write the script, and Ferrell will produce with Gloria Sanchez Productions’ Jessica Elbaum and David Permut through his Permut Presentations. Theo Love, who directed the doc, will exec produce with Bryan Storkel.
Netflix acquired the documentary after it premiered at the 2018 Tribeca Film Festival.
The doc follows a small-business owner and family man who comes across the legend of a buried stash of cocaine worth $2 million hidden in the Caribbean. He soon hatches a plan to retrieve the money, using the talents of a band of colorful misfits with trouble not far behind.
This marks the third time Ferrell and Netflix have teamed up, having just completed “Eurovision,” the David Dobkin-directed comedy based on the global musical contest. That film reteams Ferrell, Dobkin and Rachel McAdams, who all worked on the blockbuster comedy “Wedding Crashers,” with Dobkin directing, McAdams starring and Ferrell appearing in a memorable cameo. The other recent partnership between Ferrell and Netflix came with the comedy “Between Two Ferns,” in which he starred opposite Zach Galifianakis.
He also stars with Julia Louis-Dreyfus in the Nat Faxon/Jim Rash-directed “Downhill” for Fox Searchlight, which will make its premiere at Sundance. Ferrell was most recently seen in the Sony comedy “Holmes & Watson,” which also starred John C. Reilly.
Ferrell is repped by UTA and Mosaic. Deadline Hollywood first reported the news.