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The World Team Cup used to be played in Dusseldorf from 1978 to 2012 before being scrapped.
"We're delighted to have reached this outcome which will change the landscape of the ATP World Tour," Chris Kermode, ATP Executive Chairman said.
"This event will enable us to kick off our season with a major team event, with minimal impact on existing player schedules," he added.
The tournament will feature 24 teams and offer US $15 million in player prize money in 2020, as well as ATP Rankings points.