The films were considered a risky undertaking by Time Warner's movie studio New Line Cinema. With a budget of USD 281 million, the films were the most expensive movies of all time at that time.
All three films were shot back to back in New Zealand by then a relatively unknown Peter Jackson and without any big Hollywood names, according to Brian Warner of Celebritynetworth.Com.
The producers thought of adding some star value to the franchise by bringing in Connery for the role of Gandalf and they were willing to go the extra way to convince the star.
In addition to a USD 10 million per film salary, they offered Connery 15 per cent of the box office for all three movies. In what would turn out to be a monumentally poor decision, Connery declined the part because he "did not understand the script".
'The Lord of The Rings' went on to become one of the highest grossing film franchises of all time. The combined box office totals for the three films would eventually balloon to USD 2.9 billion.
As for Sean Connery, his 15 per cent stake would have been worth USD 450 million, making it one of the biggest single payday any actor has ever received.
Connery, who never revealed the money he was offered for the role, said, "I never understood it. I read the book. I read the script. I saw the movie. I still don't understand it. Ian McKellen I believe is marvellous in it."
