The script, written by David Dobkin, was acquired by the studio last year for $2 million. The studio wanted to make the film for $110 million, but were over that number by $20 million, and the deal fell flat.
It is also said that Colin Farrell is shooting for the Lancelot role, which is said to be the best part. Originally, the title roles were supposed to be going to Game of Thrones' Kit Harington who would play Arthur and The Killing‘s Joel Kinnaman who would play Lancelot. The studio is said to be unsure of casting actors who aren't more well known. Since this is a story they are really pushing to tell, they may want someone like Farrell to bring in more of a draw.
Colin Farrel will also be starring in the "Total Recall" remake due out this summer.