Piqué says everything is fine after losing the Davis Cup: Kosmos assures that he is up to date with the payments

Cosmosthe company of former footballer Gerard Piqué, who until Thursday had a contract with the International Tennis Federation (ITF), has assured, through a note, that it has paid in full” all the annual fees agreed with the ITF to organize the Davis Cup and so on “In time” will pay the relative prizes to the participants.

In the statement, Kosmos responded to protests Thursday of the International Federation and the causes of the breaking of the agreement for the organization of the Davis Cup which had already begun in the 2019 edition and which was expected to be valid for twenty-five years.

“In response to the ITF’s public statement yesterday, it appears that Kosmos and the ITF have failed to reach an agreement to renegotiate the business model, as well as the current and future fee charged by the ITF. This fee, which is was significantly reduced during the pandemic, has varied over the years of collaboration and has recently increased again. Kosmos paid the 2022 rent in full. The prize money isand will pay in due timewhen the needs of nations are met”indicates the note Kosmos.

With this declaration, Piqué’s company has eliminated the information according to which, among the reasons behind the breaking of the agreement, there would be the inability to pay players who played in the last few finals of the competition.

Since 2019 Kosmos has been organizing the Davis Cup. It changed the traditional format to organize an innovative event, with a qualifying phase with twenty-four countries and a final phase with sixteen teams, in selected venues and a final phase in a single city. The first two editions were in Madrid and the last, in 2022, in Malaga. The commitment initially signed in 2018 was for twenty-five years.

However, on Thursday, ITF and Kosmos announced the breach of contract after failing to reach a milestone in the renegotiation of the (fixed) compensation of 40 million euros per edition to which Gerard Piqué’s company was initially committed.

However, Kosmos, in its statement, points to it “He continues to be closely linked to the world of professional tennis through Kosmos Management, which recently added tennis players Borna Coric, Elina Svitólina and Andrei Rublev to its list of represented athletes.”

Source: EFE