Davis Cup: a fund led by Gerard Piqué (FC Barcelona) invests $3bn over 25 years and changes format

"The ITF today announced plans for a 25-year, $3bn partnership with investment group Kosmos that will transform Davis Cup by BNP Paribas and generate substantial revenues for global tennis development in Orlando, Florida," said the International Tennis Federation on 26/02/2018.

The "World Cup of Tennis Finals", which is expected to replace the Davis Cup from 2019, will be played by "18 nations and played over one week in a world-class location in November (see details below). The event will be staged by Kosmos in partnership with the ITF. Gerard Piqué, the Spain and FC Barcelona (Laliga Santander) football star, is the founder and president of Kosmos. The group is backed by Hiroshi Mikitani, the Chairman and CEO of Rakuten, the Tokyo-based e-commerce company (shirt sponsor of the FC Barcelona 2017-2021)," explained the ITF.

"The proposal from Kosmos is subject to further development, and the successful completion of due diligence and finalisation of a formal agreement. The plans will be submitted to the ITF Annual General Meeting, to be held in August in Orlando, Florida (USA). A…