ITF and Piqué terminate Davis Cup deal

ITF and Piqué terminate Davis Cup deal

The International Tennis Federation (ITF) and Spanish football player Gerard Pique’s company Kosmos terminated the contract to host the Davis Cup. This is reported by the French edition of 2Playbook, citing a source.

Kosmos and ITF ended their partnership due to financial disagreements. According to sources, Piqué’s company was obliged to pay for each Davis Cup, contributing €40 million in cash. However, during the pandemic, the conditions were revised.

Kosmos received payments of € 10 and 19 million. The International Tennis Federation hoped that by 2023 payments would return to their previous volumes, but this did not happen. The parties did not come to a compromise and terminated the contract.

“ITF confirms that the Davis Cup collaboration with Kosmos has ended. Despite this, all scheduled competitions of this year will be held, and the final will take place in Malaga in November 2023. The ITF secured a lucrative deal in 2018 that resulted in an increase in entry, prize money and interest in the Davis Cup, and secured funding to support the growth of our sport.

We are now focused on hosting yet another tournament draw and growing interest in the sport’s largest annual international competition,” the ITF said in a statement.

Team Canada 2022 Davis Cup Winner

Updated: 13.01.2023 — 23:36

Leave a Reply

Your email address will not be published. Required fields are marked *