There was a bidding war for Red Notice, as Deadline reported in February 2018. Just about every studio made a bid, including Netflix, but Universal Pictures and Legendary won the fight. The movie was going to be released in June 2020, and then November 2020. But then when Universal reportedly balked at the budget, Netflix was happy to agree to step in. Netflix and Ryan Reynolds were both added to Red Notice‘s story around the same time, and now here we are.
Article source: https://www.cinemablend.com/news/2491569/first-look-at-red-notice-reveals-dwayne-johnson-netflix-movie-with-gal-gadot-and-ryan-reynolds