In all his decades of deals in real estate, Stephen Ross said he never took more calls than he did when reports emerged that he had invested in drone racing.
“It is unbelievable,” he said. Even well-known New York City developer Bill Rudin reached out, he said.
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Holdings include the International Champions Cup soccer tournament.
Photo by: Getty Images |
The deal has even outstripped calls he has received since he expressed interest in buying Formula One, which is pretty remarkable because the drone investment is maybe $1 million, and an F1 acquisition could top $8 billion.
The connection, though, is they both flow through the DNA of Ross’ RSE Ventures, the sports holding company that employs more than 1,000 people, has 14 business units and investments including the Miami Dolphins, and is creating a new genre for multisports entities.
Matt Higgins, chairman of RSE, said the drone racing, which is charitably in its infancy, and F1 have more in common than at first blush: transmitting media from a vehicle to create an entertainment experience. And the intellectual property to transmit that video belongs to FanVision, a company also owned by RSE, Higgins said.
“The key to making drone racing work, to making it a sport, is getting video from the pilot,” Higgins said.
Ross, who hired Higgins three years ago from the rival New York Jets, has been building RSE since 2012.
For the Dolphins, RSE serves as sort of a buffet of services. The team’s branding campaign centering on fans’ favorite Dolphins moments came in part through VaynerMedia, a firm RSE invested in last year. Public relations help for the team can come through Derris & Co. The International Champions Cup, a soccer tournament, provides content for the stadium.
Many sports team owners have assembled multiple franchises, but Higgins all but scoffs at that strategy.
“Creating a platform of franchises does very little,” Higgins said. “Connecting the dots, and creating a network of businesses, there is an effect.”
So the big question is, has Ross raced a drone yet? He has, and even has a sense of humor about it, saying the newly renovated Sun Life Stadium would be a great venue for drone racing.
