The International Tennis Federation (ITF) is looking for a new host for the Hopman Cup after ending early its deal with Tennis Australia (TA).
The mixed-gender team tournament, first staged in Perth in 1989, had been due to take place in Western Australia's capital until January 2022.
But the ITF and TA have confirmed the licensing agreement for the event has ended, with immediate effect.
The announcement had been expected after TA agreed to host the inaugural ATP Cup in January next year, the national team competition under the Association of Tennis Professionals banner which is widely viewed as a rival to the revamped Davis Cup.
But the ITF insists it is "committed to continuing to stage the Hopman Cup" and says it has "received interest from cities around the world".
“We would like to thank Tennis Australia and the Western Australian Government for their involvement in staging an outstanding event over the past 30 years," said ITF President David Haggerty.
"The event would also not be what it is today without the long-standing support of Lucy Hopman and Paul McNamee.
"The ITF is committed to upholding the core values of the Hopman Cup in the future and is encouraged by the interest that has already been expressed.
"We are in discussions with potential partners to decide where and when this tournament will next be hosted.
"We will keep alive the Hopman Cup and look forward to successful future editions of this unique event."
Kris Dent, the federation's senior executive director for professional tennis, added: “The ITF will engage with players and other stakeholders about evolving the Hopman Cup in line with the spirit of reform and innovation at the ITF.
"It is important that international mixed-gender events like the Hopman Cup which attract fans in person and through broadcast around the world are protected.”
Roger Federer and Serena Williams, widely acknowledged to be among tennis's greats, faced each other for the first time in January's Hopman Cup in a doubles clash which the Swiss and playing partner Belinda Bencic won.
The first edition of the ATP Cup is set to be staged in Brisbane, Sydney and Perth and will have a prize pot of $15 million (£11.5 million/ €13.3 million).