Following this morning’s release of the trailer for the big-budget “F1” film, producer Jerry Bruckheimer has given an interview that aims to clear up some misconceptions about the movie. For example, he told Deadline that rumors of a $300 million budget for the film is not true.

This is what he had to say: It’s completely, unfortunately, tens of millions of dollars out of whack in the wrong direction, and in the right direction for us.

What people don’t realize is, first of all, we’re shooting in rebate [locations], England has a big rebate, lots of Europe has rebates and so does Abu Dhabi. It all lowers the budget.

Plus, we’ve raised more money for our car [through sponsorship] than some Formula 1 teams. You take that all into consideration and it really drops that number quite a bit lower than what people would think.”

Bruckheimer also denied any talk of reshoots, and said, in fact, they used the time of the writer’s strike to get all their non-actor involved second unit photography completed.

Here’s how the film is described: Made in collaboration with Formula 1, the new film is immersed in the exhilarating and cinematic world of F1, as filming takes place at races on the sport’s calendar.

Starring Brad Pitt as a former driver who returns to Formula 1, alongside Damson Idris as his teammate at APXGP, a fictional team on the grid, the feature has been shot during actual Grand Prix weekends as the team competes against the titans of the sport. The cast also includes Academy Award nominee Kerry Condon, Academy Award winner Javier Bardem, Emmy Award winner and Golden Globe Award nominee Tobias Menzies, Sarah Niles, Kim Bodnia and Samson Kayo.

Kosinski (“Top Gun: Maverick”) directs and produces the feature alongside Jerry Bruckheimer and Chad Oman of Jerry Bruckheimer Films; Pitt, Dede Gardner and Jeremy Kleiner for Plan B Entertainment; and Hamilton under his Dawn Apollo Films banner. The film is made in collaboration with Formula 1 and the F1 community, including the 10 F1 teams and their drivers, the FIA and race promoters. Academy Award nominee Ehren Kruger (“Top Gun: Maverick”) writes the screenplay. Copper CEO Penni Thow serves as executive producer.

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