Gerard Piqué and his company Kosmos are in big trouble, a lot of money and they will have to pay a good sum to the International Tennis Federation (ITF). Because?
The media claim that The money that the former Barcelona defender will have to pay will be 25 million euros.
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hard reason
The ITF minimized its losses by 56 percent in 2022, to 2.1 million euros, which significantly increased its income, which is equivalent to 47.6 percent.
“The fight between the ITF and Kosmos continues its course in the courts and is yet to be defined. Meanwhile, the Federation has already taken action on the matter and has activated one of the guarantees that is contemplated in the contract signed with Kosmos, for a value of 25.4 million euros. The license contract of the Davis cup that the Kosmos company built contemplated this fee in the event of a termination of the contract or as a guarantee in the event of a breach of the contract,” says okdiario.com.
Colombia captain Pablo González (first left), with other ITF and Kosmos captains and officials (Gerard Piqué, center, right) with the tournament trophy.
And he added: “Those just over 25 million euros were blocked and once the contract between the ITF and Kosmos has concluded, the Federation has unblocked them and entered their accounts as they progress 2Playbook. Both he and the organization the company have very different points on this matter. The ITF requests compensation in the courts for breaches of certain agreements that were made early, while Kosmos claims a figure close to 45 million euros for the termination of the contract after having invested more than 100 million in the last four editions of the tournament.
Piqué separated from the Colombian singer Shakira since June 2022, which has not brought him good luck in his business, at least with tennis.
“Both companies are currently in this delicate situation, which will have to define their positions in the courts and seek victory after separating their paths after four years. The 25 million that Piqué’s company has lost are already irrecoverable, unless the court agrees with the 45 million euros that it requests,” the publication says.
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