Guillermo del Toro’s Hellboy II: The Golden Army.

Both films featured Ron Perlman as the title character, Selma Blair as Liz Sherman, and Doug Jones as Abe Sapien, and were a success among critics and viewers, becoming a moderate box office success. Because of this, rumors about Hellboy 3 began not long after Hellboy II was released, and both del Toro and Perlman shared updates sporadically, until there was apparently no way to make it happen.

Related: All 17 Unmade Guillermo del Toro Movie Ideas & Why They Were Canceled

The first obstacle in Hellboy 3 would definitely not happen.

Ron Perlman on Hellboy 3 Kickstarter

Another important factor that came into play was funding. Hellboy 3 would have cost around $120 million, which was way more than the previous films. After the success of Pacific Rim, del Toro discussed the possibility of Hellboy 3 finding a new home at Legendary Pictures, and in 2015 said that, if Pacific Rim Uprising did well at the box office, then Legendary would fund the project. In the end, the deal fell through after del Toro dropped out of directing and Steven S. DeKnight replaced him, and no other studio was willing to fund a project as expensive as Hellboy 3.

Hellboy ended up in the realm of reboots in 2019 with Hellboy 3 ended up being one more title in the list of projects from del Toro that fans really wanted to see and were never made, and one that couldn’t even find a home as a comic book either. Maybe it just wasn’t meant to be.

Next: What Is Guillermo Del Toro's Next Movie?