Former Barcelona defender Gerard Pique's company Kosmos Tennis has decided to part ways with the Davis Cup as they failed to reach an agreement with the International Tennis Federation (ITF).

The ITF asked for a $40 million fee per edition for Kosmos to remain in charge of the 123-year-old competition. Both parties entered into negotiations over the aforementioned fee, which was expected to increase in 2024.

Attempts had been made to reach a financial agreement and, although revenues rose significantly, Kosmos and the ITF didn't strike a deal.

Despite the numbers being positive and the ITF being delighted with the new format, they decided to part ways. However, Kosmos will not abandon the world of tennis, as they are still representing players such as Andrey Rublev, Borna Coric and Elina Svitolina through Kosmos Management.