Kosmos Holding, Gerard Piqué’s company that manages the tennis Davis Cup until the end of 2022, has just released a statement citing the communication issued on Thursday evening by the ITF regarding the end of their contractual relationship.
“In response to yesterday’s public statement by the ITF, Kosmos and the ITF did not agree to renegotiate the business model, as well as the current and future fees requested by the ITF. This fee, which was significantly reduced during the pandemic, has varied over the years of cooperation and recently resurfaced”, they told about the reasons for the disagreement and that it led to the break.
And Gerard Piqué’s company wants to clarify that “Kosmos has paid the 2022 fee (32 million euros) in full. The cash prizes will be paid in due time when the countries’ requirements are met.”
According to the data managed by ‘2Playbook’, the fee was lowered to 10 million in the middle of the 2020 pandemic and since then it has continued to increase: 19.7 million in 2021, 32 million in 2022 and for the following years the ITF is asked for 36 million in 2023 and 44 million in 2024, which for Kosmos made profitability impossible.
They also emphasize that they are not abandoning the world of professional tennis: “Kosmos remains closely linked to the world of professional tennis through Kosmos Management, which recently added tennis players Borna Ćorić, Elina Svitólina and Andréi Rublev in the list of represented athletes”.
“The company will continue with its other successful projects, such as the Kings League, Andorra Football Club and the Balloon World Cup, and with its various business units: Kosmos Management, Kosmos Studios, Kosmos Team, Goatch and Koi ( both created with streamer Ibai Llanos) and Kosmos Media”.
Source: La Verdad

I’m Robert Maynard, and I am a passionate journalist with experience in sports writing. For the last few years, I have been writing for Today Times Live. My main focus has been on sports-related stories and features. With my strong background in journalism and extensive knowledge of the industry, I am able to provide readers with well-crafted pieces that are both informative and engaging.