“Now We Are on Trial” – Gerard Pique Slams ITF for Breaking the $3 Billion Davis Cup Contract After Suing Tennis’ Governing Body

The Davis Cup in tennis is one of the oldest cup competitions in the world. But, the men’s national team tennis tournament’s future looks bleak. The International Tennis Federation (ITF) ended its 25-year partnership with investment group Kosmos prematurely in five years.

The company Kosmos, owned by former Barcelona soccer player Gerard Pique, ended their partnership after various problems surfaced. The two companies signed a 25-year, $3 billion deal to brand Davis Cup well in a bid to change the face of the game. But, things went astray after the latest collapse.

Five years into the partnership, the ITF and Kosmos failed to negotiate deals to settle the differences. Pique appeared in a recent interview to discuss the problems related to working with the ITF. 

ITF and Gerard Pique end Davis Cup tournament partnership

Losing the project became hard for Pique as he commented on the issues he faced. According to Egram Samachar, he commented, “Yes, it was hard. But it depends on how you see it. We paid a fee to the ITF, which went up every year. We projected it to 25 years, that was the agreement, and we believed that there would be x income.” 

But like every other business, Covid-19 hit them hard, and not having fans would adversely impact the numbers on the balance sheets. 

Pique continued, “Although the numbers were spectacular in the first year, in 2020, they were not repeated. And in 2021, it was organized, but behind closed doors… And the fee kept growing. When we told them that we had to renegotiate because it was not at market value and the business was not generating it,” and stated how the ITF broke the contract. And, “Now we are on trial.”

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After signing the contract, both partners aimed to restore the famous tennis tournament’s heritage in its place. However, the ball was never in either of their courts. 

Issues with the partnership deal

Despite being founded in 1900, the tournament failed to attract big games in the competition. Signing a deal to change that, the presence of lesser attractive players took a hit on the logistics as organizing the competition became problematic. Likewise, switching to a World Cup format failed to excite players and the fans, another missed jig-saw in the puzzle.

COVID-19 became an issue with fans not attending the event as well. Along with several complications, the low attendance numbers and a changed format messed up the entire competition. 

The Davis Cup, though, will carry forward in 2023 under the original plans. It’s come to a point where the international calendar is filled with tournaments. Getting funding would be necessary for one of the prestigious tennis tournaments to recapture its lost charm. 

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