Agassi said in a statement that it was a regrettable decision and he would miss playing in the tournament.
Reigning US Open champion and World No. 9 Marin Cilic will represent the UAE Royals, the Dubai based franchise in the inaugural edition of the International Premier Tennis League (IPTL).
Novak Djokovic won a record-extending 10th Australian Open crown, beating Stefanos Tsitsipas in a generational clash in the men's singles final, at Melbourne Park, on Sunday.
The ATP will meet with the breakaway tennis players' union to thrash out the future of the sport.
"As it seems now, I'm likely to take over as the team captain from Pilic, who will stay on as my adviser," the 34-year-old told a local newspaper.
Andre Agassi said on Saturday he would retire from tennis after this year's US Open.
For the first time in 15 years the seven-time Wimbledon champion will not be walking through the All England Club gates.
Former Wimbledon champion Goran Ivanisevic has withdrawn from the grasscourt grand slam with a knee injury, organisers said on Sunday.\n\n
Mario Ancic beat Slovakia's Michal Mertinak to claim a 3-2 victory for Croatia in the Davis Cup final.
A round-up of the important matches at Wimbledon on Friday.
Years of patching his body together have inevitably taken their toll and the 32-year-old Croatian will bring down the curtain on his roller-coaster career at Wimbledon next week.
The defending champion is on collision course with Lleyton Hewitt, the man whose title he took.
Both lost in the opening round of the at the Stella Artois Championships.
Crowd favourites Goran Ivanisevic and Gustavo Kuerten also lost in the first round of the Monte Carlo Masters.
The 32-year-old Croatian has been troubled by shoulder, knee and foot injuries since winning Wimbledon as a 125th-ranked wild card in 2001.\n\n
The former Wimbledon champion will play his first match at the ATP championship in Milan on Tuesday.
The 2001 champion says the Briton got what he was missing before.\n\n
The former Wimbledon champion has recovered from shoulder surgery and will represent Croatia in the first round tie in February.
The former Wimbledon champion said his serve is now so weak that he would struggle to beat the Williams sisters.
The Spanish teenager reached the second round of the Estoril Open even as second seed Nicolas Massu of Chile bowed out.
List of Wimbledon men's singles champions since 1922.
UAE Royals returned to winning ways by posting a thrilling 26-21 victory over Manila Mavericks on Day 2 of the Singapore leg of the International Premier Tennis League.
Ivanisevic battled through his first match in eight months to beat the Bohdan Ulihrach in the first round of the Milan Indoors.
Goran Ivanisevic and Ivan Ljubicic rallied from two sets down to beat James Blake and Mardy Fish in the doubles, in the Davis Cup first-round tie.\n\n
Reactions to Novak Djokovic winning his 20th Grand Slam singles title at Wimbledon
Top seeds Nikola Mektic and Mate Pavic became the first all-Croatian pair to capture a Grand Slam men's doubles title when they outclassed Marcel Granollers and Horacio Zeballos 6-4, 7-6(5), 2-6, 7-5 at Wimbledon on Saturday.
Hewitt defers Hall of Fame induction due to travel restrictions
Former Wimbledon champion Goran Ivanisevic has said India can't forever sit on the laurels of greats like Leander Paes and it must have a top-10 singles player for tennis to thrive in the country.
Novak Djokovic beat Gael Monfils as inaugural champions Micromax Indian Aces signed off their IPTL campaign with a 15-29 defeat against Musafir.com UAE Royals in Dubai on Saturday.
Ana Ivanovic and Gael Monfils led the way for Indian Aces as they edged out Manila Mavericks 26-25 in a thrilling encounter in the India leg of the International Premier Tennis League.
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