PARIS: The Fed Cup finals that were scheduled to be held in Budapest next month have been postponed due to the coronavirus outbreak, the International Tennis Federation (ITF) said on Wednesday. The finals event, originally scheduled to take place from April 14-19 at the Laszlo Papp Sport Arena in Budapest, was postponed after Hungary banned public gatherings of more than 100 people indoors and 500 people outdoors. “After careful consideration and close discussion with the ITF Board, the Local Organising Committee… it is with regret that the ITF has announced the postponement of the Fed Cup Finals,” the ITF said in a statement. After the launch of the rebranded Davis Cup Finals in Madrid in November, the ITF’s flagship women’s team event was poised for a similar change of format. Twelve nations featuring many of the world’s leading women players were to compete in the Hungarian capital in a week-long event boasting $18 million in prize money. “We are extremely disappointed to have to make this decision, but we will not risk the safety and welfare of players, captains, event staff or spectators,” ITF President David Haggerty said. “This decision has not been made lightly.” The Fed Cup playoffs, due to be held from April 17-18 in eight locations around the world, were also postponed. The ITF said new dates will be announced only after it takes stock of the situation.