Miami Open Ownership: Steve Ross Expands Sports Empire

Billionaire real estate mogul Steve Ross is acquiring a 45% stake in the Miami Open, solidifying his expanding presence in South Florida’s sports scene. As reported by Front Office Sports, this deal is part of Endeavor’s sale of the tennis tournament to a group led by Ari Emanuel, including RedBird Capital Partners and Apollo Global Management.

Miami Open Investment Strengthens Ross’ Sports Holdings

Ross, 85, already owns major South Florida sports assets, including the Miami Dolphins, Formula One Miami Grand Prix, and Hard Rock Stadium, which hosts both the Dolphins and the Miami Open. Until now, Ross only had a profit-sharing deal for the tennis tournament and no ownership stake.

With this deal, he will officially become a co-owner, significantly strengthening his sports business portfolio in the region.

Related Ross and Real Estate in South Florida

Last year, Ross stepped down from active leadership at Related Companies—the firm he founded more than 50 years ago—and launched Related Ross, headquartered in West Palm Beach. This offshoot now manages all of Related’s South Florida real estate holdings.

Through this company, Ross has played a major role in transforming West Palm Beach into a high-end business and residential hub.

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Miami Open Ownership Adds to Ross’ Local Influence

Ross’ South Florida office portfolio includes eight buildings across downtown West Palm Beach. In the residential sector, he’s spearheading South Flagler House, two luxury 28-story condo towers designed by Robert A.M. Stern Architects. Located at 1355 South Flagler Drive, the development recently secured a $600 million loan—South Florida’s largest condo construction financing this year.

Other key Related Ross projects include:

• The Laurel: A 21-story, 322-unit apartment tower at 635 Hibiscus Street.

• The $40 million acquisition of WPTV studios at 1100 Banyan Blvd via a sale-leaseback with Wexford Real Estate and Key International.

Solidifying a Sports Legacy in South Florida

With his acquisition of part of the Miami Open, Ross further cements his reputation as a sports tycoon. It complements his investments in football and auto racing, while anchoring his influence over one of South Florida’s most high-profile tennis events.