"If you do events do it big", Kermode said, adding that timing wasn't a factor for the ATP Cup given that it exists within the framework of the Tour.
The new event, seen as a threat to the International Tennis Federation's (ITF) revamped 18-nation Davis Cup competition starting in Madrid next November, will take place over 10 days in three Australian cities. "To have a new, fresh team event - the ATP Cup - will kick-start the year in the best possible way and on our terms". "Clearly if the World Team Cup is going to be held, players will want to play that in the first week of the year, so you would think it's going to be exciting", the Swiss said after reaching the last four of the ATP Finals in London.
Chris Kermode, ATP Executive Chairman and President, said the team event was part of the Tour's attempt to grow the sport, and has been in the woodworks for nearly five years. Players have called the ATP calendar saturated and overcrowded, specifically Novak Djokovic and Alexander Zverev.
Winners will be awarded up to 750 ATP rankings points and $15 million (£11.7 million/€13.1 million) in prize money.
Tennis Australia CEO, Craig Tiley said: "This is an wonderful opportunity, in close collaboration with the players and the tour, to deliver a globally impactful event that further elevates the sport and the fan interest in it". We dream of getting the colour of our countries on our tracksuit and going out on the court and playing for teams rather than ourselves", he said, "We are part of an individual sport so for the majority of the time we are playing at an individual event.
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The governing body of men's tennis, the Association of Tennis Professionals (ATP) has announced details of a new team tennis event that will become the richest tournament on its tour.
ATP Player Council president Novak Djokovic, 31, has given his backing to the ATP Cup event: "I like that it's owned by ATP, by the players".
Kosmos has committed $41m for each of the next two seasons to run the new Davis Cup - $82m in all, that is - and they are not ready to rip their model up and start collaborating at this stage. It's not an ATP land grab or anything like that.
"Australia is a country that has a Grand Slam, that nurtures tennis tradition. This is us promoting big events in which we can attract new audiences".
"This event will help us all achieve that while connecting with new generations of tennis fans". I'm very, very sure that a lot of top players will not play.
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In contrast, the Davis Cup doesn't offer prizemoney or ranking points.
"This is going to be special, it's going to be fantastic to launch the year with this event and it will create interest immediately", said Tiley, who is heavily involved in another team event, September's Laver Cup.
The ATP Cup, which will clash with the ATP's Doha tournament, will see nations split into six groups, with eight emerging to compete in a knockout phase.
The ten-day event will be played in a best-of-three set format - two singles and a doubles. "The assurance that I want to give everybody is we will only be doing things if we think it is better - and that's why this is a test".
Qualification for the tournament will be based on the highest ATP ranking of the number one singles player from each country.
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