{"id":276977,"date":"2023-01-13T03:38:42","date_gmt":"2023-01-13T03:38:42","guid":{"rendered":"https:\/\/haftavasool.com\/haftavasool\/blog\/2023\/01\/13\/itf-ends-davis-cup-partnership-with-piques-kosmos-investment-group-tennis-news-times-of-india\/"},"modified":"2023-01-13T03:38:42","modified_gmt":"2023-01-13T03:38:42","slug":"itf-ends-davis-cup-partnership-with-piques-kosmos-investment-group-tennis-news-times-of-india","status":"publish","type":"post","link":"https:\/\/haftavasool.com\/haftavasool\/blog\/2023\/01\/13\/itf-ends-davis-cup-partnership-with-piques-kosmos-investment-group-tennis-news-times-of-india\/","title":{"rendered":"ITF ends Davis Cup partnership with Pique&#8217;s Kosmos investment group | Tennis News &#8211; Times of India"},"content":{"rendered":"<p> [ad_1]<br \/>\n<br \/><img decoding=\"async\" src=\"https:\/\/static.toiimg.com\/photo\/msid-96955242,imgsize-57254.cms\" \/><\/p>\n<div>The <!-- -->International Tennis Federation<!-- --> announced on Thursday that it was ending its <a href=\"https:\/\/timesofindia.indiatimes.com\/topic\/davis-cup\" styleobj=\"[object Object]\" class=\"\" data-ga=\"within_article-topic_link|topic_davis-cup\" frmappuse=\"1\">Davis Cup<\/a> partnership with <a href=\"https:\/\/timesofindia.indiatimes.com\/topic\/gerard-pique\" styleobj=\"[object Object]\" class=\"\" data-ga=\"within_article-topic_link|topic_gerard-pique\" frmappuse=\"1\">Gerard Pique<\/a>&#8216;s investment group Kosmos just five years into a 25-year, $3 billion agreement.<br \/>In 2018, the ITF had unveiled the deal with former <a href=\"https:\/\/www.happytrips.com\/topic\/barcelona\" styleobj=\"[object Object]\" class=\"\" data-ga=\"within_article-topic_link|topic_https:\/\/www.happytrips.com\/topic\/barcelona\" rel=\"noopener nofollow noreferrer\" frmappuse=\"1\">Barcelona<\/a> soccer player <!-- -->Pique<!-- -->&#8216;s investment group, which had promised to invest $120 million per year, amid much fanfare.<br \/>The ITF had said at the time that the package to revamp the Davis Cup competition would safeguard the future of the sport as it would &#8220;deliver long-term benefits for players, nations, fans, sponsors and broadcasters&#8221;.<br \/>However, less than five years later the deal &#8212; which also had the backing of Wimbledon, French and U.S. Open officials &#8212; has ended.<br \/>&#8220;The ITF can confirm that its partnership with Kosmos Tennis for Davis Cup is ending in its fifth year,&#8221; the ITF said in a statement.<br \/>&#8220;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.&#8221;<br \/>Kosmos could not be reached for comment when contacted by Reuters.<br \/>The agreement with Kosmos had led to the revamp of the men&#8217;s team competition, which was founded in 1900.<br \/>The usual home-and-away ties played over a few weekends during the course of the year were scrapped.<br \/>That format was replaced in 2019 with just one home-and-away round of ties that was followed by 18-teams competing in one city for a week-long climax to the season.<br \/>Despite the deal with Kosmos being terminated, the governing body of tennis added: &#8220;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.<br \/>&#8220;As well as being focused on delivering another spectacular edition of the men\u2019s <!-- -->World Cup of Tennis<!-- -->, we are focused on the future growth of the largest annual international team competition in sport.&#8221;<br \/>After the 2020 edition was postponed because of the COVID-19 pandemic, the 2021 finale was held across 11 days in three cities &#8212; Madrid, Turin and Innsbruck.<br \/>The format was tweaked again last year, when teams competed in a group stage in September, with the top eight advancing to the finals. <\/div>\n<p><script>!(function(f, b, e, v, n, t, s) {\n                  window.TimesApps = window.TimesApps || {};\n                  const { TimesApps } = window;\n                  TimesApps.loadFBEvents = function() {\n                    (function(f, b, e, v, n, t, s) {\n                      if (f.fbq) return;\n                      n = f.fbq = function() {\n                        n.callMethod ? n.callMethod(...arguments) : n.queue.push(arguments);\n                      };\n                      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[&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":276978,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[872,61275,203087,35594,6895,335104],"_links":{"self":[{"href":"https:\/\/haftavasool.com\/haftavasool\/wp-json\/wp\/v2\/posts\/276977"}],"collection":[{"href":"https:\/\/haftavasool.com\/haftavasool\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/haftavasool.com\/haftavasool\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/haftavasool.com\/haftavasool\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/haftavasool.com\/haftavasool\/wp-json\/wp\/v2\/comments?post=276977"}],"version-history":[{"count":0,"href":"https:\/\/haftavasool.com\/haftavasool\/wp-json\/wp\/v2\/posts\/276977\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/haftavasool.com\/haftavasool\/wp-json\/wp\/v2\/media\/276978"}],"wp:attachment":[{"href":"https:\/\/haftavasool.com\/haftavasool\/wp-json\/wp\/v2\/media?parent=276977"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/haftavasool.com\/haftavasool\/wp-json\/wp\/v2\/categories?post=276977"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/haftavasool.com\/haftavasool\/wp-json\/wp\/v2\/tags?post=276977"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}