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James Caan Explains Why The 'Elf' Sequel Didn't Happen

There is no denying that Elf is one of the most beloved Christmas films of all time. Will Ferrell's Buddy the Elf is truly ~ pure ~ magic.

There has been rumors for years of a Elf sequel but unfortunately, those rumors officially DIE TODAY!

John Caan is finally explaining why there won't be another film and honestly, I'm pretty sad about it!

It's hard to believe that *Elf* premiered almost 17 YEARS AGO! November 7th, 2003 was a magical day in Christmas movie land.

If you tell me you haven't been tempted to try Buddy's Breakfast Spaghetti at least once in the past 17 years, you're LYING!

With such an amazing movie, fans OBVIOUSLY want more. However, James Cann, who plays Buddy's dad Walter, is shutting down those rumors.

While chatting with Cleveland's 92.3 The Fan radio station, James explained that a film was in the works a few years ago, but the plan totally fell apart.

"We were gonna do it. And I thought, 'Oh my god, I finally got a franchise movie, I can make some money,'" James joked.

"The director and Will didn't get along very well. Will wanted to do it ... and he didn't want that director, and he had it in his contract. It was one of those things. It's too bad."

The director is, of course, Jon Favreau, who appears in the movie as Dr. Leonardo.

Ugh, it's too bad things didn't work out!

Would you want an Elf 2? Or do you believe sequels normally suck and it's best to preserve those memories of the OG? Let us know in the comments below!

h/t: Radio.com.