Settlement reached following lawsuit over abrupt end to multi-billion-dollar Davis Cup partnership
The International Tennis Federation (ITF) has officially resolved its contractual dispute with investment company Kosmos, putting an end to the legal battle that followed the early termination of their Davis Cup agreement.
In a statement released on Thursday, the ITF confirmed that both parties had reached an “amicable resolution” concerning disagreements linked to their former collaboration on the organisation of the prestigious men’s tennis competition.
Kosmos, founded by ex-Barcelona footballer Gerard Piqué, had entered into a 25-year agreement with the ITF in 2018, valued at $3 billion. The partnership was established with the objective of revitalising the Davis Cup and providing financial security for the tournament, while also promoting tennis at various levels worldwide.
The deal led to significant changes to the tournament’s structure. Traditional ‘home and away’ knockout rounds were replaced in 2019 with a revamped format known as “The Finals”, featuring 18 national teams competing in Madrid. Subsequent editions saw further adjustments, with three cities co-hosting the finals in 2021 after the 2020 event was cancelled due to the pandemic.
However, in January 2023, the ITF terminated the agreement, citing financial provisions that would ensure the continuation of the event, which has been part of the tennis calendar since 1900.
In response, Kosmos filed a lawsuit at the Court of Arbitration for Sport (CAS), accusing the ITF of unjustly ending the contract and seeking financial compensation.
With Thursday’s announcement, both parties confirmed that the dispute has now been settled, though no details regarding the terms of the resolution were disclosed.
