Kosmos, the Investment Management company led by Former FC Barcelona Captain Gerard Pique, has filed a lawsuit against the International Tennis Federation (ITF) for the alleged “unjustified” termination of their contract for the organization of the Davis Cup. The company is seeking a million-dollar claim for damages caused by the breach of contract.
The ITF and Kosmos had previously agreed with the Catalan company to operate the Davis Cup, with an initial fee estimated at 40 million dollars, which was later revised due to the impact of COVID-19. The move comes after reported rumors that the entity presided over by David Haggerty would be willing to take Pique’s company to court for breach of contract.
The International Tennis Federation (ITF) is reportedly preparing to take legal action against Kosmos, for breaking the contract they signed in 2019. The contract, set to last for 25 years, would have seen Kosmos organizing the Davis Cup tournament. According to reports, Kosmos broke the agreement by unilaterally renouncing it. Pique’s company could not meet the financial obligations outlined in the contract, including the annual payments of $40 million to the ITF and $10 million to the teams participating in the tournament.
The ITF, which is now back in control of the Davis Cup, is said to be considering its options for a new format for the tournament, while also looking into legal measures against Pique and Kosmos for the accumulated debts and damages caused by the broken contract.
The International Tennis Federation has ended their 25-year Davis Cup deal with Gerard Piqué’s Kosmos company after only 5 years. pic.twitter.com/nrOgeqHiJ0
— Pop Base (@PopBase) January 15, 2023
The ITF’s potential legal action against Kosmos is sure to be closely watched in the tennis world, as the Davis Cup is one of the sport’s most prestigious team tennis competitions. The outcome of the case will have significant implications for the future of the tournament and the parties involved.
This is not the first legal dispute in which Pique and Kosmos have been involved. Pique, who recently retired from football, has been making headlines for his split with Shakira and his relationship with Clara Chia.
In case you missed it: Shakira refused to reconcile with Gerard Pique after she realized Clara Chia isn’t ‘just another one,’ claims top paparazzi
Unfazed by the off-deal, Gerard Pique has successfully organized a unique Rendition of Modern Football
The former Man United man has been busy post-retirement, Just days after he retired from professional Football, Gerard Pique announced his plans for a new and exciting competition called the King’s League as part of a Twitch interview with popular Spanish streamer Ibai Llanos. The league began in 2023 and is being hailed as a revolutionary moment for the sport, as it offers a fresh and unique take on the traditional game of football.
The top line of the King’s League is that it’s a seven-a-side tournament with 12 teams where each side has a squad of 12 players, the first 10 of which were drawn by a draft in December, and the other two are essentially ringers. The 11th player must be the same person for the entirety of the season, but the 12th player can change each week.
Rules of the Kings league Explained
Javier Hernandez is the biggest name to have participated so far. However, he is unlikely to appear again, given his LA Galaxy commitments, while Carles Planas, Joan Verdu, Alberto Bueno, and World Cup winner Joan Capdevila are also among those to get involved.
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