The Guy Ritchie directed project was supposed to be the opening film of a series focusing on Lancelot, Guinevere, Merlin and Excalibur. However, the series has been completely shelved, with Warner Bros executive Jeff Goldstein admitting that "the concept missed".

The film, which starred Sons Of Anarchy’s Charlie Hunnam, and also featured Jude Law, Aiden Gillen and David Beckham in his first speaking role, cost over $175 million to produce. Marketing and other costs are not included in this total.

The film recouped a meagre $15.4 million in the US, and $29.1 million in the rest of the world. The Hollywood Reporter is claiming that the production could cost Warner Bros over $150 million.

The film has been savaged by critics, and currently holds a 26% rating on review aggregating site Rotten Tomatoes.

Despite the disastrous opening weekend, the film has been defended stoutly by various cast members, who praised director Guy Ritchie for doing something different with the raw material of the Arthurian legend. The Lock, Stock and 2 Smoking Barrels director tried to add his signature East End gangster tone to the famous myth, a choice that obviously failed to resonate with international audiences, in the same way that it reignited interest in the Sherlock Holmes franchise.

Ritchie will try to salvage his reputation with his next project, the big budget, live action remake of Aladdin.