Cameras will roll on the set of Italian/French/Irish co-production ‘This Must Be the Place’ on Monday, August 16th. The film is to be co-funded by Intesa Sanpaolo, an Italian bank group, in an unprecedented move.
Pre-production is ongoing on Paolo Sorrentino’s English language debut. The drama stars Oscar winning actors Sean Penn (Milk) and Frances McDormand (Fargo).
As to the funding of the feature which bears a $28 million budget? For the first time ever an Italian bank is to participate in the production of a film. Intesa Sanpaolo bank group is to back the production with funding of approximately €2.5 million. The move has called for a stipulation of a partnership agreement between the main production companies, Medusa Films, Lucky Red and Indigo Film with IMI Investimenti and, following recent regulatory decisions, will mean the recognition of fiscal benefits to investors not in the sector who contribute resources for the realization of a cinematographic work. (Tax Credit Esterno, as it is known in Italy). The bank will also benefit from any profits the film renders.
The Irish Film Board is to give €500,000 towards the film’s budget which reports say tops $28 million. The feature will shoot for ten weeks in total, three of which will be in Dublin and Wicklow and the remainder will take place in various American locations.
‘This Must Be the Place’, will see Paolo Sorrentino (Il Divo) helm the story of a former rock-star Cheyenne (Penn) who lives quietly in Dublin with his wife, played by McDormand. When his father, a holocaust survivor, dies in New York Cheyenne embarks on a journey across America to track down his father’s nemesis. Sorrentino penned the script with co-writer Umberto Contarello (La Partita Lenta, Luce dei Miei Occhi).
Shooting on 35mm, DOP is award winning cinematographer Luca Bigazzi (Il Divo, Così ridevano). Editing will take place in Italy with Cristiana Travaglioli in the edit suite. More crew will be announced at a later date.
‘This Must Be the Place’ is an Indigo Film and Lucky Red production, in co-production with ARP and Element Pictures, in association with Pathe, with financing from the Irish Film Board and Section 481. Ed Guiney (The Guard) and Andrew Lowe (Zonad) are co-producing for the Irish based Element Pictures. Element Pictures Distribution have secured the Irish rights to the film for its 2011 release.