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One of the rare team events outside of Davis Cup, the World Team Cup in Dusseldorf is coming to an end after 35 years to make way for a new tournament.

By Erik Gudris

(October 4, 2012) -- After 35 years, the World Team Cup competition will be discontinued to make way for a new ATP 250 event in Dusseldorf.

As reported by Sports Business Daily, the event's license was allegedly sold to Ion Tiriac, owner of the current combined event in Madrid, for a reported $2.1 million dollars. But per an existing clause in the event's contract, Rochusclub Dusseldorf, site of the annual event, will be allowed to maintain ownership and host an ATP 250 tournament instead. Power Horse energy drink, the sponsor of the World Team Cup, will likely stay on as a title sponsor.

The World Team Cup, started in 1978, was a unique event on the tennis calendar as teams comprised of players from around the world would compete against each other in a week-long format before the start of Roland Garros each year, in May. Serbia, led by Janko Tipsarevic, won this year's event over the Czech Republic. Germany won the event five times, the most ever for one country, while the United States won four times with its last title coming in 1993.

No confirmation was given whether the new ATP event will stay in its current spot on the tour calendar.