Friday, March 31, 2023

Kosmos but to pay prize cash to Davis Cup gamers

Prize cash for gamers participating in final season’s Davis Cup has but to be paid by the Kosmos group whose partnership with the Worldwide Tennis Federation was terminated.

“The money will be paid in due course when the preconditions are met by the nations,” Kosmos stated in a press release despatched to AFP.

Requested to make clear these situations, Kosmos stated there are “documents and forms which must be sent (to them) in order to be able to make payments.”

On Thursday, the ITF ended its Davis Cup settlement with the Kosmos group, which is headed by Spanish soccer star Gerard Pique, lower than 5 years after a 25-year deal, price $3 billion, was signed.

The revamped Davis Cup, first performed in 1900, has attracted widespread criticism for its new format which broke away from its conventional system of residence and away ties, favouring city-based occasions as an alternative.

“Kosmos Tennis and the ITF have not reached an agreement to renegotiate the business model, as well as the current and future rights requested by the ITF,” added the Kosmos assertion on Friday.

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