Red Light film goes green

Red Light Runners, a film project backed by Reservoir Dogs star Michael Madsen, has managed to raise the minimum amount of money required to allow the proposed production to go ahead. The star-studded film, which is looking for £8 million in all in a fundraising via the Enterprise Investment Scheme, easily passed its £2 million deadline last week.

Madsen will co-produce the film with Clark Westerman, who wrote the script. Westerman said that the team had heard that one individual, who has previously backed other films, wanted to put in £4 million. He will meet this person this week to structure the financing, since the maximum any taxpayer can put into an EIS company to gain the reliefs is £150,000.

In another development Westerman revealed that in addition to Masden and Radio One DJ Sara Cox, the project had persuaded Mickey Rourke, comedian Eddie Izzard and footballer-turned-actor Vinnie Jones to join the cast. Other stars involved include Spandau Ballet pop singer Martin Kemp, formerly an actor in Eastenders, and Christopher Penn, former brother-in-law of Madonna.

The script, which potential investors can read, is described as a ‘sociological heist’. Like other Quentin Tarintino-inspired violent thrillers, the story involves chief gangster Madsen gathering together a group of petty criminals for a more serious crime. Although all single film projects are high risk, Westerman hopes this one will have mass appeal bridging the Atlantic.

‘This is not a minority art film. It is aimed at the UK and US mass markets and it has the benefit of a list of well-known, highly respected actors. Many EIS films projects don’t take into account US box office, where a majority of film revenue is derived,’ he explained. The company is in talks with Disney subsidiary Miramax about US distribution.

The final closing date for the EIS offer is now 15 August. A prospectus is available from www.redlightrunners.co.uk . Investors will be able to attend the wrap party to celebrate the film’s completion.

(22/07/02)