An 18-nation World Cup of Tennis Finals is planned as the International Tennis Federation (ITF) revamps the Davis Cup.
The week-long event, which would be held in
November, has been unanimously endorsed by the ITF's board of directors and could start in 2019.
The ITF has outlined a 25-year, $3bn (£2.15bn) plan with an investment group founded by footballer
Gerard Pique.
A two-thirds majority at the ITF annual general meeting will be required for final approval of the proposals.
That meeting is scheduled to take place in Orlando in August.
A proposal to reduce Davis Cup singles matches to the best-of-three sets was rejected last year.
"Our vision is to create a major season-ending finale that will be a festival of tennis and entertainment,
featuring the world's greatest players representing their nations to decide the Davis Cup champions,"
said ITF chairman David Haggerty.
"This new partnership will not only create a true World Cup of Tennis, but will also unlock record levels
of new investment for future generations of tennis players and fans around the world."
Barcelona and Spain defender Pique said his Kosmos
investment group was "thrilled to join in this exciting
partnership with the ITF".
He added: "Together we can elevate the Davis Cup to
new heights by putting on a must-see World Cup of
Tennis Finals featuring the top nations and top
players."
The event would be run on a round-robin format
before a knockout phase, with matches consisting of
two singles and one doubles rubber. Matches will be
played over the best-of-three sets.
The 16 World Group nations will automatically qualify
for the finals, with a further two nations to be
selected.
France are the Davis Cup champions, having beaten
Belgium in November.
Reaction - 'We'll keep an open mind'
Great Britain Davis Cup captain Leon Smith
There's still a long way to go as it requires approval
at the ITF annual general meeting, but we're still
passionate about the Davis Cup and I, like everyone
else, realise that changes need to be made to ensure
longevity and status of the competition.
Of course, one of the first things that came to mind is
the loss of the home and away tie. It works in other
sports but remains to be seen if it could work in
Davis Cup.
However, I do think it's really positive that the ITF is
looking at significant investment from other sources
to secure the future of the competition.
For now we'll just have to keep an open mind as we
start to learn more about this proposed new structure
and whatever the outcome, I hope the Davis Cup
remains the most important team event in world
tennis.
Analysis - 'Something needs to change'
BBC tennis correspondent Russell Fuller
World Group home and away ties, played on a
variety of surfaces, will be sorely missed by many
fans (and some players) - but something needs to
change if the Davis Cup is to remain a relevant,
global sporting event.
In fact, the Davis Cup - at elite level - will never be
the same again if the ITF's member nations endorse
the plan in August. It should not be forgotten, though,
that less radical reforms failed to attract the
necessary two-thirds majority when put to a vote
last summer.
This time, though, there is a serious amount of money
on the table, which will benefit both players and the
grassroots.
Then there is the involvement of Gerard Pique, who
spoke to the ATP about setting up a similar event at
the start of each year. This could turn out to be quite
a coup for the ITF as Andy Murray, Rafael Nadal and
Novak Djokovic all spoke very positively about his
potential involvement.
As for the women's Fed Cup competition, the ITF's
first priority is to establish a 16-team World Group
(instead of the existing two-tier structure) in time for
2019. If that proves successful, there is the potential
in future for the Fed Cup to be organised along
similar lines to this proposed new World Cup.

http://www.bbc.com/sport/tennis/43202373