ITF terminates Kosmos partnership

The International Tennis Federation (ITF) has ended its partnership with investment group Kosmos.

The ITF and Kosmos, which is founded by former Spanish footballer Gerard Piqué, had signed a 25-year agreement which was reportedly worth US$3 billion. The agreement, which was aimed at transforming the Davis Cup and boost the revenues for global tennis development, has now ended in its fifth year. The ITF has also revealed that it will be running the Davis Cup 2023 on its own. 

The 2023 edition of the Davis Cup will have a group stage consisting of 16 teams in September later this year before proceeding to the final knockouts between the final eight teams in November, which will have two singles and one doubles for every game. 

The ITF released a statement, which read:

“The ITF can confirm that its partnership with Kosmos Tennis for Davis Cup is ending in its fifth year. 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.

“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.“