Kosmos yet to pay prize money to Davis Cup players
On Thursday, the ITF ended its Davis Cup agreement with the Kosmos group, less than five years after a 25-year deal, worth $3 billion, was signed.
Published : Jan 14, 2023 10:35 IST , Paris
“Kosmos Tennis and the ITF have not reached an agreement to renegotiate the business model, as well as the current and future rights requested by the ITF,” added the Kosmos statement on Friday. | Photo Credit: AFP
Prize money for players taking part in last season’s Davis Cup has yet to be paid by the Kosmos group whose partnership with the International Tennis Federation was terminated.
“The money will be paid in due course when the preconditions are met by the nations,” Kosmos said in a statement sent to AFP.
Asked to clarify these conditions, Kosmos said there are “documents and forms which must be sent (to them) in order to be able to make payments.”
On Thursday, the ITF ended its Davis Cup agreement with the Kosmos group, which is headed by Spanish football star Gerard Pique, less than five years after a 25-year deal, worth $3 billion, was signed.
The revamped Davis Cup, first played in 1900, has attracted widespread criticism for its new format which broke away from its traditional system of home and away ties, favouring city-based events instead.
“Kosmos Tennis and the ITF have not reached an agreement to renegotiate the business model, as well as the current and future rights requested by the ITF,” added the Kosmos statement on Friday.