A screenplay entitled Drago has reportedly been filed with the US Copyright Office centering around Drago, played by Dolph Lundgren in the 1985 classic, Rocky IV. In it, Drago faces off against heavyweight champion and Rocky Balboa villain, Mason "The Line" Dixon.
The plot synopsis, via fansite Total Rocky:
The premise? To save his mafia boss brother, Ivan Drago must fight his way through prison and defeat the heavyweight champion of the world, Mason "The Line" Dixon.
Written by Andrew LeMay, the potential Drago film was actually adapted from a previously developed script called Communist Redemption Boxing Movie. Originally, the script centered around a Cuban boxer, but was adapted to Drago's story "when Russia invaded Ukraine" in order to "reflect today's Cold War nostalgia," according to a press release.
Sadly, though, LeMay is currently still attempting to secure the rights to the Rocky characters he'd like to use for Drago, so this one may never actually happen. However, rumor has it that two-time Oscar winner Christoph Waltz has expressed interest in a role, and Antonio Tarver, who played Mason Dixon, did favorite a tweet from LeMay asking if he'd reprise his role in Drago.
With no rights to characters reportedly secured, however, it may be best to not yet get your hopes up. But, hey, Warner Bros. bit on the premise for Creed, so anything is possible.