The world No.15 is still buzzing after leading Canada to their first Davis Cup final in Madrid where they went down to a Rafael Nadal-inspired Spain in November.

However, the 20-year-old admitted it was strange that he was preparing barely a month later for yet another team event, the inaugural ATP Cup which starts on Friday.

Canada have been grouped with Australia, Greece and Germany and will play their round robin clashes in Brisbane.

"I think the timing is interesting. I think it is a little bit strange to have it at a similar time as Davis Cup," Shapovalov said.

"It is a weird feeling playing a world championships then coming into another event that is pretty much the same thing.

"We will see how it pans out."

The January 3-12 ATP Cup boasts $A21 million prizemoney and will feature 24 teams contesting round robin clashes in Brisbane, Perth and Sydney before finals action moves to Sydney.

It comes just weeks after the $A25.5 million Davis Cup was held featuring 18 teams in a new-look soccer World Cup-style event in Madrid with the winners of six groups progressing to quarter-finals along with two best runners-up.

It received the makeover after Barcelona and Spain footballer Gerard Pique's Kosmos company acquired the Davis Cup rights from the International Tennis Federation for the next 25 years for $A4.3 billion.

Questions have already been raised over whether the two team competitions can co-exist by world No.2 and ATP Player Council president Novak Djokovic.

Shapovalov reckoned he might have the answer.

"It would be great just to have one event that is a world championship," he said.

"A month ago we played the world championship and now it feels like we are playing another one.

"It would be great if they could organise and make one big event, make it a unique and special tournament.

"Hopefully they can come to terms together and make something happen."

But Germany's world No.7 Alexander Zverev was backing the new ATP Cup on Wednesday.

"This is a massive event. We get to play for our country, for our teammates, for everyone back at home," he said.

"I think that makes it more special when you walk out on court."

Australian captain Lleyton Hewitt supported the event, but admitted it was for mostly selfish reasons.

"For us it is a chance to play in our home country and the preparation it will give our guys two weeks outside the Australian Open will be critical," he said.

"If we find a way into the quarters all these boys will be playing well ahead of the first major."

Australian Associated Press