Resolution Reached: ITF and Kosmos Settle Davis Cup Dispute

The International Tennis Federation and Kosmos, led by Gerard Pique, have settled a dispute over their abruptly terminated Davis Cup partnership. The deal initially aimed at revamping the competition ended over financial disagreements, leading to legal action by Kosmos against the ITF for breach of contract.

The International Tennis Federation (ITF) has reached a resolution with the investment group Kosmos, following the sudden termination of their Davis Cup partnership in early 2023. The ITF confirmed in a Thursday statement that both parties had amicably settled their contractual disagreements regarding the organization of the prestigious tennis competition.

Kosmos, which is owned by former Barcelona soccer star Gerard Pique, had entered a $3 billion, 25-year co-running deal with the ITF back in 2018. This arrangement was initially hailed as a safeguard for the Davis Cup legacy, with promises of substantial investments across various levels of the sport.

The 2019 revamp of the Davis Cup, which eliminated traditional home-and-away knockout rounds, saw the introduction of "The Finals" in Madrid. However, after the 2020 edition was canceled due to the pandemic, format changes continued until the deal was scrapped in January 2023, prompting Kosmos to sue the ITF for contract termination.

(With inputs from agencies.)