Announced by the International Tennis Federation (ITF) on Thursday that he abruptly ended his highly profitable 25-year partnership with former Spanish football star Gerard Pique’s investment after groupCosmos just five years of 3 billion dollar agreement.
In 2018, the ITF revealed the deal with former Barcelona football player Pique investment groupwhich promised to invest $120 million per year, to great fanfare.
The ITF had said at the time that the package to renew the Davis Cup competition will protect future of Sport as if “going long”term Benefits for playersNations, fans, sponsors and broadcasters”.
However, less than five years after the deal – which also support was of Wimbledon, France and the US Open are over.
The ITF can confirm that her partnership with Cosmos Tennis for Davis Cup ends in Fifth year, said the ITF in Permit.
The ITF negotiated a solid deal for Tennis in 2018 – Partnership increased participation, prize money And interest in Davis Cup and Financing for Productions support the global development of Our sport.
Cosmos cannot be reached for comment when calling.
the agreement with Cosmos led to renewal of the men’s team competition that was founded in 1900.
The usual home and away ties are played over a few weekends over year canceled.
This format has been replaced in 2019 with just one home-and away round of Relationships that followed 18 teams competing in one city for High season for a week.
Deal though with Cosmos being terminated, the referee body of Tennis added: “The ITF has sponsored financial Emergency in place And as a guard of the competition We will run the 2023 Qualifiers and Finals as scheduled, with Take the final 8 place in Malaga, Spain, in November this year.
As well as being focused on Another amazing version of The men’s world cup of Tennis, we focus on the future growth of largest annual international team competition in sports.”
After the release of 2020 it was postponed Because of Due to the COVID-19 pandemic, the 2021 Finals were played over 11 days in Three cities – Madrid, Turin and Innsbruck.
The format has been modified again last year when teams compete in a group The theater in September, with The top eight advance to the finals.
