The Kosmos company, which is owned by the former Spanish soccer player Gerard Pique, is demanding 50 million dollars (45.7 million euros) from the International Tennis Federation (ITF), in the name of compensation for the violation of the contract on the organization of the Davis Cup.
“After the termination of the contract by the ITF, there is now a dispute between the two parties in which we are asking for 50 million dollars,” the former Barcelona player said today for the Spanish newspaper Marca.
In 2018, Kosmos signed a 25-year contract with the ITF to organize the Davis Cup, but in January of this year, the ITF decided to return control of the representative competition.
The company owned by Pique filed a claim with the Court of Arbitration for Sport (CAS) for “unjustified breach of contract”.
“We believe that what we have done with the Davis Cup is a great success. We came when the competition was in decline, it was at its lowest level. And as far as sports, economy and attendance are concerned, we arranged the tournament”, added the 36-year-old former Spanish footballer.
Pique said that in 2019, revenues increased by four times, but then the corona virus pandemic changed everything.
“There was no Davis Cup in 2020, part of 2021 was played without an audience… The fixed price we paid was not marketable. Corona was impossible to predict”, he said.
In 2019, Kosmos changed the format of the Davis Cup, the final tournament of which was played at the end of the year with 18 selections.
