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All four tennis Grand Slams will make it a priority to safeguard the Davis Cup men's team tournament, the governing body of the sport's most prestigious events said on Friday, two weeks after the ITF's partnership with investment group Kosmos ended.
The International Tennis Federation said that its partnership with former Barcelona soccer player Gerard Pique's Kosmos was ending five years into a 25-year, $3 billion agreement.
The ITF, the sport's governing body, added that it had financial contingencies in place and would operate the 2023 Davis Cup qualifiers and finals as scheduled, with the Final 8 taking place in Malaga, Spain, in November.
"Protecting the heritage of the sport and safeguarding major teams competitions such as the Davis Cup and Billie Jean King Cup is a priority for the global tennis community and will appropriately get the Grand Slams' full attention," the Grand Slam board said in a statement.
The board added that the Grand Slam tournaments were united in their support for the Davis Cup "recognising its historical significance and important role in growing engagement in our sport around the world."
"We believe there is an opportunity to engage in further discussions with the ITF and ATP regarding the future of the Davis Cup competition with the ambition of seeing it restored to a premier event with an optimal format and place in the calendar that benefits players, fans and the sport overall."
The ITF welcomed the statement and said it was looking forward to "leading further positive conversations" with the Grand Slam Board and the ATP in the build-up to this year's Davis Cup.
"We are excited for another successful edition of the Davis Cup in 2023 and look forward to discussions to continue the future growth of the competition," the governing body added.