“It’s a Multi-Million Dollar Disaster” – After Tearing Up $3,000,000,000 Contract, ITF’s Potential Chief Strongly Condemns Gerard Pique’s Kosmos Over Davis Cup Fiasco

Back in January, Gerard Pique was in the news for non-soccer reasons. Shockingly, the International Tennis Federation suddenly ended its deal with the soccer veteran’s investment group. Without a doubt, it came across as a surprise to the soccer fraternity. Mainly, due to the COVID pandemic, the governing tennis body and the Davis Cup faced severe financial difficulties that then caused major disagreements.

In recent times, a major voice from the ITF reflected back on their contract with Pique’s company. Through his statement, he condemned Pique’s company over the entire Davis Cup fiasco. Let’s dive deeper.

Who said what about Gerard Pique’s Kosmos company?

Back in 2018, Gerard Pique’s Kosmos company signed a long-term deal with the ITF. Both parties imagined this partnership to go on for over twenty-five years. But just five years later, both of them failed to settle their differences. Potential President Von Arnim said, “The disaster we have experienced with Kosmos has massive financial consequences for the ITF”.

“The ITF has massive damage, it’s a multi-million-dollar disaster for the ITF”. He then publicly asked, “to consider very carefully what to do with the format of the Davis Cup, to make it a sporting success because then financial success will come. It’s great event with an exceptional image”, as compiled by Europa Press and translated by Google Translate,

Failing to attract big names and having less attractive players eventually took a hit on the logistics of the competition. Switching to a World Cup-like format neither excited the players nor the fans. After the COVID pandemic, low attendance numbers and a reformed format didn’t quite financially benefit the Davis Cup at all.

READ MORE: Gerard Pique Adds $3,000,000 to His $80,000,000 Net Worth From Kings League Final, Despite Embarrassing Shakira Taunt at Camp Nou

Months after losing the major contract, Gerard Pique also reflected back on those five years.

What did Gerard Pique say about the broken deal?

After taking them to court, the soccer legend revealed that Kosmos had to pay a yearly fee to ITF. That projected fee was for twenty-five years. As per the agreement, the fee between them would rise every year. That’s because they estimated an ever-rising x amount of income. But that never ended up happening due to the COVID pandemic. Although he did admit that the numbers were ‘spectacular’ in 2020.

As the pandemic forced the tournament to go on behind closed doors, the Davis Cup wasn’t making a lot of money. But Kosmos’ yearly fee kept rising. Pique then flagged his concerns to the board members, but couldn’t come to an agreement. One fine day in January 2023, the 25-year-long agreement was shredded.

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What do you think about Pique’s company’s feud with the ITF? Let us know in the comments below.