Will Ferrell is set to produce and star in Netflix's feature remake of its own documentary The Legend of Cocaine Island, which I must've missed earlier this year, but will surely watch following this announcement.

Theo Love directed the documentary, which follows a family man who becomes intrigued by the legend of a buried stash of cocaine hidden in the Caribbean. This small-business owner was wiped out during the Great Recession, and since the stash is said to be worth $2 million, he hatches a plan to retrieve the buried coke, using the talents of a band of colorful misfits. Unfortunately, without any prior drug-running experience, complications ensue.

Now that's the kind of Will Ferrell movie I want to see. I don't know if our protagonist ever finds the coke, since I haven't seen the documentary, but the idea of him rounding up this rag-tag crew to take a trip to the Caribbean based on nothing more than an urban legend sounds like comedy gold to me. In fact, I'm surprised that Adam Sandler didn't think of something like this first, though watching Uncut Gems certainly feels like you've taken a trip to Cocaine Island.

Netflix has tapped Peter Steinfeld (Analyze That) to write the script, and Ferrell will produce alongside Jessica Elbaum under their Gloria Sanchez Productions banner, as well as David Permut (Captain Ron), who will produce via his company Permut Presentations.

Bryan Storkel will executive produce with Love, whose documentary premiered at the 2018 Tribeca Film Festival before debuting on Netflix on March 29, 2019.

Ferrell recently parted ways with his longtime Gary Sanchez partner Adam McKay, who has been pursuing more dramatic projects. Ferrell next stars opposite Julia Louis-Dreyfus in Jim Rash and Nat Faxon's marital comedy Downhill, based on the acclaimed Swedish film Force Majeure. He has also wrapped the Netflix comedy Eurovision, which pairs him with Rachel McAdams. Ferrell is also attached to star in the Amazon movie Prince of Fashion, which has Jacob Tremblay circling the young lead, and don't be surprised if his old Black List project The Flamingo Thief comes back around. Ferrell is represented by UTA and Mosaic, and Deadline broke the news.

Ferrell recently returned to Studio 8H to host Saturday Night Live for the fifth time, though his monologue was rudely interrupted by Ryan Reynolds, who is currently hyping up his own Netflix movie, 6 Underground. You can watch that bit here, and then check out a cut sketch featuring Ferrell as a drama teacher who loves drama by clicking here.