The future of the Davis Cup has been thrown into jeopardy following the departure of investment company Kosmos after they reportedly failed to reach a financial agreement with the International Tennis Federation.
Rumours of the partnership breaking up started to surface on social media on Thursday but Ubitennis has since been able to confirm that this is true through a national tennis federation source. According to the Spanish newspaper Marca, Kosmos’ exit from the Davis Cup occurred after they failed to reach an agreement with the ITF concerning the $40M fee per year.
The development is a massive blow for the ITF who originally signed a 25-year deal with Kosmos worth in the region of $3bn back in 2018 after their AGM voted in favour of making changes to the event. Something that prompted a substantial divide in the sport with critics accusing them of trying to destroy the historic team competition which has been in existence since 1900. Under the agreement, Kosmos took sole responsibility for the Davis Cup and its format.
During recent interviews with Ubitennis over the past three months, the CEO of Kosmos, Enrique Rojas, claimed the organization had desires to make the Davis Cup as prominent as a Grand Slam and said in a separate interview that he wanted to use ‘global ambassadors’ to promote the event.
The timeframe of the negotiations has not been made public and therefore it is unclear when Kosmos officially ended their collaboration.
One of the first officials to react to the development was Dirk Hordotff from the German Tennis Federation who agreed with Ubitennis for his remarks to be published. Hordorff is the current coach of Ricardas Berankis and has previously worked with former world No.5 Rainer Schuettler for 20 years.
“Time to review and heal this nonsense,” he said.
‘Bring back home and away ties which makes the Davis Cup so unique.’
“Solve the key issues of the problem: no short notice for organizations of the ties and have a minimum preparation for each event of one year. Don’t play the final every year and don’t play (the event) in Olympic years. The best thing during an Olympic year would be to have a team event at the Olympics.”
There is yet to be an official statement from either the ITF or Kosmos. However, an ITF spokesperson has confirmed to the AFP news Agency that the partnership is ‘ending in its fifth year.’ It is understood that this year’s Davis Cup will continue under the sole control of the ITF but it remains to be seen what happens to the future of the event.
As for Kosmos, they will still stay involved in tennis in some capacity. Earlier this month they announced the signings of Elina Svitolina, Borna Coric and Andrey Rublev to their management branch.
