Kosmos says it could not renegotiate Davis Cup business model with ITF

MELBOURNE : Gerard Pique's Kosmos Tennis said on Friday that the International Tennis Federation's decision to end its Davis Cup partnership with the private investment group followed an unsuccessful attempt to renegotiate the business model.

"In response to the ITF's public statement yesterday, it appears that Kosmos Tennis and the ITF were unable to reach an agreement to renegotiate the business model, as well as the current and future fee requested by the ITF," the Kosmos spokesperson added. The ITF, the sport's governing body, said it had financial contingencies in place and would operate the 2023 Davis Cup qualifiers and finals as scheduled, with the Final 8 taking place in Malaga, Spain, in November.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

ITF ends Davis Cup partnership with Pique's Kosmos investment groupThe International Tennis Federation announced on Thursday that it was ending its Davis Cup partnership with Gerard Pique's investment group Kosmos.In 2018, the ITF had unveiled the 25-year, $3 billion partnership with former Barcelona soccer player Pique's investment group amid much fanfare. It said then
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »