Francis Ford Coppola borrowed more than $100 million to finance ‘Megalopolis’

• Francis Ford Coppola spent more than 100 million dollars to finance his film “Megalopolis”.
• However, the film is only projected to earn $5 to $7 million in its opening weekend at the box office.
• Coppola took out a loan against his wine business to finance the film and other projects.

Francis Ford Coppola has self-financed his latest epic ‘Megalopolis’ – but unfortunately, it doesn’t look likely that the filmmaker will recoup the millions he’s invested.

“Megalopolis,” which opened in theaters Friday, is currently targeting a $5 million to $7 million debut at the box office, per Variety . That’s shockingly low compared to the $100 million+ that Coppola spent on the film. (In a 2022 interview, Coppola said he had invested $120 million in the project; on Thursday, The Wall Street Journal, citing an unnamed source involved in the film, reported that it was $136 million. )

Coppola is best known for films such as The Godfather, its 1974 sequel, and Cannes Film Festival Palme d’Or winners The Conversation and Apocalypse Now. “Megalopolis” was a long-gestating project, a sci-fi epic set in a Roman reimagining of New York City.

The film received extremely mixed reviews from critics, with The Wall Street Journal calling it a “spectacular disaster”. It was also plagued by bad press and controversy: there were allegations that Coppola engaged in inappropriate behavior on set (which Coppola denied), and distributor Lionsgate pulled a trailer for the film after Vulture reported that it contains inaccurate quotes from critics.

In his new interview with The Wall Street Journal, Coppola explained how he financed the film by leveraging his own wine business, the Francis Ford Coppola Winery. According to the publication, the filmmaker merged the business with Delicato Family Wines in 2021 in a deal it says was valued at $650 million. As part of the deal, he kept the Inglenook estate that houses the Coppola family home and the original vineyards on which the business was built.

The deal also allowed him to take out a massive $200 million loan against his stake in Delicato. Those millions went to “Megalopolis,” as well as other projects on the Inglewood property and the Sentinel Building in San Francisco, which he owns.

“I went to the bank and said, ‘How much can I borrow?'” Coppola told The Wall Street Journal.

Coppola’s son Roman wasn’t surprised by the move, telling the Journal that he found it “exciting” to see his father using the money to pursue something he’s passionate about.

Coppola was optimistic about the film’s economic prospects, telling the Journal that he believed the film would have a “very auspicious opening” and that “time is on my side.” But even if it fails at the box office, he has a plan that could involve a tax cut.

“I’m very old, so it all comes down to an estate plan,” he said.