Kosmos, which has been running Davis Cup for the last 5 years, has decided not to renew its contract to run Davis Cup. Kosmos had signed a deal in 2018 to manage Davis Cup for 25 years but ITF ended the deal without providing reasons for the decision. Rumors are that Kosmos had financial difficulties and was unable to meet its commitments. With Kosmos pulling out, ITF will run the qualifying stages and Davis Cup finals in 2023.
When Kosmos backed by Gerard Piqué picked up Davis Cup, it had grand ambitions to reimagine the event with a long history. Many players including Roger Federer were skeptical that Kosmos could change the Davis Cup format and keep the event engaging for fans.
In a statement, ITF confirmed the end of the partnership, saying, “The ITF can confirm that its partnership with Kosmos Tennis for Davis Cup is ending, The ITF has ensured financial contingencies are in place and as the custodian of the competition we will operate the 2023 Qualifiers and Finals as scheduled, with the Final 8 taking place in Malaga, Spain, this November.”
Under Kosmos, Davis Cup Finals was moved to a neutral venue with a lot of matches played before empty stands. Kosmos realized that it was difficult to make money from the event which caused the company financial challenges.