“We Are Claiming Upto $50,000,000” – Trouble for International Tennis Federation as Gerard Pique Seeks Damages After Investing $100 Million in Davis Cup

Following his retirement from soccer, Gerard Pique quickly shifted his focus to expanding his company, Kosmos Holding. While he successfully managed to do it by getting a deal with the International Tennis Federation, it quickly fell through. A lot of time has passed since the deal fell through, but the trouble for the ITF looks to continue.

The saga between Pique and the ITF stretched for quite some time. The tennis federation ended a 25-year deal worth $3 billion between Kosmos and Davis Cup. Subsequently, the former Barcelona star looks to get paid for his damages.

Gerard Pique solicits damages from ITF

Recently, the former defender sat down for a deep chat with Marca and vocally spoke about Kosmos’ exit from the Davis Cup. He said, “We believe that what we did with the Davis Cup is a resounding success story. We arrived at a competition that was in decline. And on a sporting, economic, above all, and audience level, we turned the tournament around. That is evident and verifiable with numbers.”

Pique revealed that his company quadrupled its income in just a year and increased the number of sponsors from 3 to 15. However, due to COVID-19, everything fell through. He continued, stating that Kosmos had an agreement with the ITF and even paid the federation “a very important amount of money.” As said by Pique, it was 40 million euros a year.

The Spaniard revealed that his company was paying four times more than Tennis Australia’s $10 million sum to the ATP. Pique further discussed seeking damages from ITF. “In 2020 there was no Davis Cup, for part of 2021 it was played behind closed doors… The fixed amount we were paying was out of the market. After the termination of contract by the ITF there is now litigation between us in which we are claiming up to 50 million dollars.”

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Likewise, Pique also discussed how much he invested in the Davis Cup, which undoubtedly cost him a considerable sum.

Investment of $100 million in Davis Cup

While Gerard Pique looks to shell out $50 million in damages from ITF, he continued by saying that more details couldn’t be revealed due to confidentiality restrictions. However, Pique insisted he was “proud of everything” he and his company did. The defender believes Kosmos turned around the competition, but the pandemic was something they didn’t expect to see.

Pique revealed that other federations around the world had adapted to the pandemic situation; however, the ITF didn’t. He said the federation denied renegotiating all the terms prior to COVID, which resulted in the termination of the contract. The Kings League owner then revealed that his company invested more than $100 million in the Davis Cup in four years. He also insisted the company wanted to invest more.

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Indeed, the sum is quite humongous, and the former Spain international looks to get paid for his damages. All things will be heard in court, as both Pique and ITF have filled up their cases. It remains to be seen what the final verdict will be.

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