Kosmos has just broken the contract entrusted to him by the organization of the most important national event in tennis. Initially, the bond was 25, but they only managed to reach four.
This December 12, Gerard Pique is not only in the news for Shakira’s new song, but also for an announcement that is shaking the world of tennis. His company Kosmos will cease to organize the Davis Cup after failing to reach an economic agreement with the International Tennis Federation (ITF). News that leaves the most important white sports tournament by country with an uncertain future.
And it is that despite the fact that the 2023 edition will not see changes in its organization, the sequel for Davis is a total unknown. Complicated by new events between nations (ATP Cup at the time and now with the new United Cup), in addition to its complex position on the calendar and the heavy criticism the current format has received, the tournament will have to find a way to captivate new to the world of tennis.
Shakira to Pique: “You left me as the neighbor of the mother-in-law, with the press at the door and the debt to the Treasury”
The reasons for the end of the link can also be explained by the complex moment of the tournament that Canada won a little over a month ago. The ITF refused to renegotiate the amounts it would receive from Kosmos , since due to the pandemic and the crisis, Piqué’s company could not pay the 40 million euros per edition that it had undertaken to cancel when the event resumed. Initially, the contract was for 25 years for 3,000 million dollars.
The company again wanted to lower the amount it had agreed to pay in 2019, which the tennis entity did not accept. In 2020 they paid 10.2 million, while in 2021 they only paid 19.7, still blaming profitability issues.
For 2022 they managed to increase the contribution and canceled 32 million and now they were expected to be 36 and 44 respectively within the next two years. But Kosmos was unwilling to deliver those sums of money and those differences ended up cutting off the negotiation and the contract that bound them for the next 21 years.
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Pique only managed to have the event for four years, but by making very profound changes. For example, in 2022, the multi-site format debuted (This is how they were to receive large sums from countries that wanted to host the finals) with Valencia, Bologna, Hamburg and Glasgow as hosts ahead of the final final in Malaga.
That’s why there aren’t a few fans who are thrilled that Davis is returning to his traditional format, with series where locality is shared at all times and not where only a few countries (each year of Kosmos was in Europe ) receive the most important tournament instances. That and everything to do with the 2024 edition is uncertain. At the moment, we only know that Pique’s cup is no more.
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Source: Latercera
I’m Rose Brown , a journalist and writer with over 10 years of experience in the news industry. I specialize in covering tennis-related news for Athletistic, a leading sports media website. My writing is highly regarded for its quick turnaround and accuracy, as well as my ability to tell compelling stories about the sport.
