The future of the Davis Cup is up in the air after the International Tennis Federation (ITF) on Thursday announced it was ending its partnership with investment group Kosmos, founded by Spanish footballer Gerard Piqué, just five years into a 25-year agreement.
The ITF and Kosmos originally signed the 25-year, $3 billion agreement in 2018, with the stated aim to transform the Davis Cup and boost revenues for global tennis development.
The ITF had said at the time that the agreement with Kosmos to revamp the Davis Cup competition would safeguard the future of the sport as it would “deliver long-term benefits for players, nations, fans, sponsors and broadcasters”.
In a statement, the ITF said: “The ITF can confirm that its partnership with Kosmos Tennis for Davis Cup is ending.
“The ITF has ensured financial contingencies are in place and, as the custodian of the competition, will operate the 2023 qualifiers and finals as scheduled, with the Final 8 taking place in Malaga, Spain, this November.
“The ITF negotiated a strong deal for tennis in 2018. The partnership increased participation, prize money and interest in Davis Cup and produced funding to support the global development of our sport.
“As well as being focused on delivering another spectacular edition of the men’s World Cup of Tennis, we are focused on the future growth of the largest annual international team competition in sport.”
Cosmos is yet to offer any public comment on the development.
