The event would provide a less rigorous international competition than the current Davis Cup and help shorten a season which many players believe is too taxing.
"It's all fresh and it's all ideas, we didn't decide to put anything on an official term because we have to consider other sides as well," said Djokovic, an elected member of the Players Council alongside Federer and world number two Rafa Nadal.
"This is the bottom line. Without sponsors there wouldn't be a tournament; without tournaments, you know, players wouldn't exist. But still, players are the ones who are making the show and their opinions have to be greatly considered. "
According to reports the World Cup is envisaged to have a biennial 10-day tournament involving 32 teams, featuring shorter matches where players have to watch the clock between points.
