The entertainment industry's relentless pursuit of a remake of the Ace Ventura franchise seems to be detached from reality. The original series, starring Jim Carrey, gained popularity in the early 1990s, with Carrey's comedic talent propelling him to stardom. However, the films are also known for their transphobic content, particularly in the first installment, "Ace Ventura: Pet Detective." Despite this controversy, the demand for Ace Ventura costumes and catchphrases like "ALRIGHTY THEN!" indicate that there is still interest from Morgan Creek Productions in reviving the franchise through a remake.

However, attempts to make headway with a remake have consistently failed.

The reluctance of Jim Carrey to reprise his role as Ace Ventura is a significant factor in this saga. Carrey has stated that he does not enjoy playing the same character more than once. Consequently, studios have tried to capitalize on the brand name without Carrey's involvement. This approach is exemplified by projects like "Son of the Mask" and "Evan Almighty," which were set in the same universe as Carrey's films but did not feature his characters. The direct-to-video sequel, "Ace Ventura, Jr.: Pet Detective," further illustrates this strategy by introducing a new actor playing Ventura's offspring.

Morgan Creek Productions announced plans to remake the original Ace Ventura film in 2015. They later shifted their approach to a legacy sequel, following the trend of films like "Creed" and "Star Wars: The Force Awakens." However, these plans ultimately fell through, perhaps due to the challenges of creating an Ace Ventura film without Carrey's involvement. Additionally, the industry's focus had shifted to legacy sequels rather than remakes.

In March 2021, news emerged that the project had transformed into a third installment rather than a remake or reboot.

The writers of "Sonic the Hedgehog" were attached to pen the script, and Amazon Studios had partnered with Morgan Creek to produce the film. However, Jim Carrey's announcement that he intended to retire from acting has cast doubt on the future of the franchise. As of now, no further developments have been reported.

In conclusion, while the possibility of a third Ace Ventura film still looms, the challenges associated with Carrey's absence and the changing landscape of the entertainment industry may hinder its realization. Only time will tell if the beloved franchise will have a chance to return in some form.