PARIS — Roger Federer on Friday hailed the "wonderful" addition of the Laver Cup, one of three men's tennis team events, to the official ATP calendar.

The tournament, inspired by golf's Ryder Cup, pits teams from Europe and the 'rest of the world' against each other and was first held in 2017.

It will be in competition with the revamped Davis Cup and the ATP World Team Cup.

"As I come closer to the end of my playing career, it's wonderful to know that the Laver Cup will be part of the tour that I've dedicated more than 20 years of my life to," said the 37-year-old Federer in a statement after the announcement that the Laver Cup would be added to the ATP Tour.

This year's edition will be held in Geneva from Sept. 20-22, with Bjorn Borg's Team Europe the defending champions after defeating the John McEnroe-led Team World in 2018 in Chicago.

World No. 1 Novak Djokovic played in the Laver Cup last year, but has also been one of the driving forces behind bringing back the ATP World Team Cup.

"The Laver Cup is a true celebration of tennis that is loved by the fans and embraced by the players," said the 15-time Grand Slam champion.

The inaugural Davis Cup finals — which have replaced the World Group after funding from Barcelona footballer Gerard Pique's investment company Kosmos — will be held in November in Madrid, while Sydney will host the first World Team Cup finals next year.

The Laver Cup team event between Europe and the rest of the world is to become an official part of the ATP Tour.

While extremely popular in its first two editions staged in front of sell-out crowds in Prague and Chicago, the competition backed by Federer was seen as something of an outrider.

This year's tournament in Geneva in September will have no ranking points but Friday's announcement means it will have the same back-up and logistical support as other ATP Tour events.

"The Laver Cup team is incredibly excited about this partnership with the ATP," Tony Godsick, President and CEO of Federer's management company TEAM8 and Laver Cup chairman, said.

"It has always been our hope to build the Laver Cup in partnership with the tennis world, and certification by the ATP after two editions is an overwhelming validation of our vision."

The Laver Cup last year saw a European team captained by Bjorn Borg and including the likes of Federer, Novak Djokovic and Alexander Zverev take on John McEnroe's world team featuring Nick Kyrgios, Kevin Anderson and John Isner.

Critics have suggested it crowds the calendar and uses a prime slot that could be occupied by the Davis Cup, which has been revamped this year by the International Tennis Federation.

Chris Kermode, executive chairman and president of the ATP, said the popularity of the event had been a decisive factor in bringing it on board.

"It has struck a chord with fans worldwide in a very short time," Kermode said. "This event has great potential to reach new fans around the world."

Becoming an officially-sanctioned event means the Laver Cup will have access to all ATP services, including marketing and social media, as well as umpires and physios. This year's competition will take place from Sept. 20-22. — Agencies