LONDON (AP) — The International Tennis Federation has ended the Davis Cup partnership with the group of private investors led by former soccer player Gerard Piqué, which helped reform the tournament in 2018.
In that year, the Federation established a 25-year partnership with Kosmos Tennis to create a new Davis Cup format, in an effort to raise the popularity of the most prestigious team tournament in the sport and make it more lucrative.
However, the Federation announced on Thursday that it has terminated the agreement, without giving details on the reasons. He added that he will solo host this year’s Davis Cup.
“The International Tennis Federation can confirm that its partnership with Kosmos Tennis for the Davis Cup has come to an end,” the organization announced in a statement. “The Federation has ensured that financial contingency measures are implemented. And as custodians of the competition we will operate the 2023 qualifiers and finals as scheduled. Final round 8 will take place in Malaga, Spain this November.”
Piqué, who ended his career with Barcelona in November, became the public face of Kosmos and had promised the group would invest $3 billion in tennis during the 25-year partnership.
Kosmos did not immediately respond to a request for comment.
The 2023 Davis Cup format includes a 16-team group stage in September, before a top-eight knockout final tournament in November.
Each duel consists of two singles matches and one doubles. Before the modification, the tournament was played on four weekends throughout the year, with series of a maximum of five games.
“The Federation negotiated a solid agreement for tennis in 2018. The partnership increased participation, prize money and interest in the Davis Cup, and generated funding to support the global development of our sport,” the organization said. “In addition to focusing on delivering another spectacular edition of the Men’s Tennis World Cup, we are focused on the future growth of the largest annual international team competition in the sport.”