The new event will make Saudi Arabia the 10th Masters 1000 host, joining Indian Wells, Miami, Monte-Carlo, Madrid, Rome, Toronto/Montreal, Cincinnati, Shanghai and Paris.
ATP Chairman Andrea Gaudenzi called the announcement “a proud moment that has been years in the making,” saying Saudi Arabia had “shown a genuine commitment to tennis - not just at the professional level, but also in growing the game more broadly.”
The event will be owned and operated in Saudi Arabia, staged over one week with a 56-player draw on outdoor hard courts, and will not be mandatory for players.
SURJ Sports CEO Danny Townsend said they were working with the ATP to create “a world-class stadium and the infrastructure to deliver the tournament,” with an announcement expected in months.
“We've got a couple of years to work that through, and we've got a bunch of different options around both the Giga-Projects (large-scale, multi-billion dollar initiatives) that PIF have around the country, but also other facilities,” Townsend said.
“I'd say, we're a couple of months away from a pretty exciting announcement on that. I think it's more like three options. So Riyadh, being the centre of the business community and sports community in Saudi is likely to be the place. But we've still got work to do on that.”
Townsend stressed the new Masters would not replace the Six Kings Slam, a PIF-backed exhibition featuring six top male players.
“None of this is about replacing anything,” he told a media round table in Paris on Thursday.
“It’s about being accretive to how we serve sports fans and entertainment customers in the Kingdom and more broadly in the region.”
Townsend said the project aligns with Crown Prince Mohammed bin Salman’s Vision 2030 economic diversification plan.
“In Saudi Arabia, we’ve got multiple stakeholders all with a common goal,” he said.
“Vision 2030 is about diversifying the economy. We’re working with Giga-Projects operators to determine who can invest alongside us in infrastructure.”
He said the long-term model is key to large-scale investment: “It’s very difficult to justify spending the appropriate amount of money to create a world-class facility if you don’t own the asset in perpetuity.
"We’re moving the Kingdom away from renting sports rights and toward owning them.”
The ATP said proceeds from the new partnership would be used for the sport's calendar optimisation and to boost the Masters bonus pool to strengthen top-player participation.
“PIF’s ambition for the sport is clear, and we believe players and fans alike will be amazed by what’s coming,” Gaudenzi said.
PIF, which manages assets of nearly $1 trillion, has made sports central to its global strategy.
It holds majority control of Premier League club Newcastle United, backs LIV Golf and has invested in Formula E, boxing and e-sports. The WTA Finals were held in Riyadh in 2024, while Jeddah has hosted the ATP Next Gen Finals since 2023.
Townsend said bringing a Masters event to Saudi Arabia would “inspire the next generation” and strengthen grassroots participation.
“Since 2019, 140 tennis clubs have been built in the Kingdom and 20 elite academies are in place,” he said.