Men`s Tour chief Chris Kermode rejected suggestions of an ATP "land grab" when launching a new $15 million (£11.7 million) team tennis competition to start in Australia in January, 2020.


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Details of the ATP Cup were revealed at a news conference at London`s O2 Arena on Thursday where Kermode was joined by Tennis Australia CEO Craig Tiley and world number one Novak Djokovic.


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.


The six-week gap between the two competitions was this year labelled "insane" by Kermode and Djokovic said on Wednesday the men`s calendar was at saturation point and it would result in "two average events".


On Thursday, however, Djokovic put his weight behind the ATP Cup. "I like that it`s owned by ATP, by the players," he said.


The ATP announced in July its new team event would start in January, drawing criticism from the ITF which said it was a "missed opportunity" to work together.


Scheduled for just before the year`s opening Grand Slam in Melbourne, and the incentive of ranking points, the ATP Cup looks a natural fit for the players.


Germany`s Alexander Zverev, one of the sport`s rising stars, said he would not play in the Davis Cup finals next year because it is at the end of an already-gruelling season.


The ITF got the green light in August for a controversial revamp of the 118-year-old Davis Cup- one of the oldest team competitions in world sport.


Investment group Kosmos, headed by Spanish footballer Gerard Pique, is putting in $3 billion over 25 years, but unless the marquee players turn out it could be superseded by the ATP Cup.


Kermode, the ATP`s Executive Chairman and President, said productive talks had been held with the ITF about the calendar at this week`s ATP Finals in London.


"The issue is timing, being so close, I get that," Kermode told a news conference, following a video collage of players pledging their support to the ATP Cup.


"But there seems to be a fixation that the ATP Cup has caused the issue with the Davis Cup which is not the case.


"Even if the ATP Cup didn`t exist, the Davis Cup still doesn`t have a week which is the issue.


"We all know it`s complicated, but I think it`s time to have a fresh look. It`s not an ATP land grab or anything like, it`s us promoting big events to attract new audiences."


PLAYERS` BACKING


As well as cash, the ATP Cup, being run in conjunction with Tennis Australia, is offering up to 750 ranking points- a huge incentive for the players.


Tiley said he was "pumped" for the new competition.


"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.


"In 2020 we will run a great event and in partnership with the ATP Tour we will do all we can to ensure the Davis Cup is also a magnificent global event," he added.


The ATP Cup will clash with the ATP`s Doha tournament, an event in Brisbane and the Hopman Cup.


Nations will be split into six groups, with eight emerging to compete in a knockout phase.


Teams will comprise two to five players, with the format being two singles and one doubles rubber. Nations will qualify based on the ranking of their top player.