The International Tennis Federation is ending its Davis Cup partnership with the non-public funding group fronted by former Barcelona soccer star Gerard Pique, which helped revamp the storied competitors in 2018.
The ITF signed a 25-year partnership with Kosmos Tennis in 2018, when a brand new Davis Cup format was launched in an effort to revitalise the distinguished males’s crew occasion and make it extra profitable.
But the ITF introduced on Thursday it had ended the deal, with out offering particulars for the explanations behind the choice, and stated it’s going to run this yr’s Davis Cup by itself.
“The ITF can confirm that its partnership with Kosmos Tennis for Davis Cup is ending,” the federation stated in a press release.
“The ITF has ensured financial contingencies are in place and as the custodian of the competition we will operate the 2023 Qualifiers and Finals as scheduled, with the Final 8 taking place in Malaga, Spain, this November.”
Pique, who ended his taking part in profession in November, turned the general public face of Kosmos and had pledged the group would make investments $US3 billion ($A4.3 billion) in tennis through the 25-year partnership.
Kosmos didn’t instantly reply to a request for remark.
The new Davis Cup format means the match is now being performed over one week in a World Cup-style format. It was beforehand performed with head-to-head confrontations over 4 weekends all year long.
Australia reached the final two of 2022’s competitors however have been unable to finish a 19-year await a twenty ninth Davis Cup title, dropping 2-0 to Canada within the remaining in Malaga.
“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,” the ITF stated within the assertion.
“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.”
