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‘Heat 2’ Nearly Collapsed After Warner Bros, Sony, and Paramount Walked Away Before Amazon Greenlit Michael Mann’s $165M Epic; ‘Heat 3’ Already in the Works?

July 30, 2026 Jordan Ruimy

A nifty behind-the-scenes account of “Heat 2,” via TheWrap, has just been published. It includes some details I had previously reported, along with some new information.

“Heat 2” moved from Warner Bros. to a Sony/Paramount co-production before finally becoming an Amazon/MGM Studios film. Yet, the project almost fell apart multiple times.

First, at Warner Bros., Mann delivered a draft of the “Heat 2” screenplay in March 2025. There was hesitation. Warner Bros. was coming off three straight pricey bombs: “The Alto Knights,” “Mickey 17,” and “Joker: Folie à Deux.” I’d be shocked if those three films didn’t amount to at least $300M in losses for Warners.

Spooked, Warner Bros. told Mann they would only make the film for $125M. Mann needed $220M. It didn’t help that Mann’s last film, “Ferrari,” only made $43M against a $95M budget.

Paramount and Sony Pictures then entered the picture, taking over and agreeing to split the costs with a $160M budget. The studios would each contribute $80M in what would have been a historic partnership between two major studios. A press release was prepared to make it official, but on September 26, 2025, Paramount pulled out of the deal. Mann was shocked, and Sony tried to reach Ellison, but he was unavailable.

Sony, worried that “the film wouldn’t be profitable theatrically at that budget,” was only willing to commit to a $120M budget. The studio ultimately bowed out as well.

Amazon then entered the picture. Backed by tech money, it decided to give Mann the budget he needed — $165M. Mann trimmed his once-190-page screenplay, and a $40M rebate from the California Film Commission helped move the project forward.

DiCaprio will play Chris Shiherlis, the role formerly occupied by Val Kilmer.

The current situation is much more stable for Mann. “Heat 2” is set to begin shooting in November, and the script has reached its final form. Mega-producer Jerry Bruckheimer believes “Heat 2” will be as successful as his other “dad movie,” “F1.” Amazon/MGM is also gung-ho about the film’s prospects and believes it could gross $500M worldwide.

All parties involved are so confident that, according to a source, a “Heat 3” is already being plotted, which would “extend the world” of “Heat” even further.

Mann recently confirmed that the globe-trotting production will take him to Los Angeles, Chicago, Paraguay, and Singapore. The L.A. shoot alone will be 77 days. That’s quite an arduous shoot for Mann, 83, and one can surmise this might be the last big blockbuster of his career. One insider called the scale of “Heat 2” “‘Spartacus’ with machine guns, ‘John Wick’ times 1,000.” The action sequences in the film are meant to “dwarf the action sequences from the original film.”

“Heat 2” stars Leonardo DiCaprio as Chris Shiherlis, taking over the role originally played by Val Kilmer, and Christian Bale as Vincent Hanna, the iconic LAPD detective portrayed by Al Pacino in the 1995 film. Stephen Graham is expected to play Neil McCauley, the master thief originally played by Robert De Niro, while Adam Driver is in negotiations to portray Otis Wardell, one of the novel’s new central antagonists.

No release date has been announced, but we can expect 2028 to be the year we finally get to catch Mann’s extravagant crime epic.

← ‘Wicker’ Trailer Has Olivia Colman and Alexander Skarsgård in Unusual Fantasy Romance AMC CEO Adam Aron Calls Warner Bros-Paramount Merger “A Step Forward That Should Be Welcomed and Celebrated” →

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