Saudi Arabia will host a new Masters 1000 tennis tournament through an agreement between the ATP Tour and SURJ Sports Investments, according to the tour and SURJ, the sports-focused fund of the country’s sovereign wealth fund, Public Investment Fund (PIF).
PIF secured a license for what will be the 10th Masters 1000 event, one step below the four Grand Slams, and the first addition to the top tier since their inception in 1990. Other Masters 1000 tournaments include Miami, Indian Wells, Rome and Madrid. The event is expected to launch as early as 2028, per ATP chairman Andrea Gaudenzi.
WTA Tour players are not part of the event.
The financials of the deal were not revealed, but SURJ CEO Danny Townsend highlighted the importance of a “return on our capital” in a call with reporters ahead of the announcement. “Renting assets is really hard,” Townsend said. “Owning them gives you that opportunity to really build a genuine, long-term future for the sport.”
The event will join the ATP and existing Masters 1000 tournaments as a shareholder in ATP Media, the tour’s global broadcast and media arm.
The new tournament arrives as players raised concerns about the length of the season and the physical toll it is taking on them. Gaudenzi said the event was unanimously approved by his board, which consists of four player representatives, four tournament representatives and Gaudenzi.
Saudi Arabia was previously interested in taking over the Masters 1000 events in Miami and Madrid, owned by Endeavor Group’s IMG. The two events were recently acquired by MARI, the new global events and experiences company founded by Ari Emanuel, who is also TKO Group CEO and chairman of WME Group.
Saudia Arabia has leaned heavily into tennis. Last year, the Saudi Tennis Federation committed to record prize money of $15.25 million to host the WTA Finals, a $6.25 million increase over the previous year in Cancun. It matched the payout for the men’s ATP Finals in Turin, Italy. Last week, Saudi Arabia held the second annual Six Kings Slam exhibition event, with a half-dozen top men’s players. The $15 million payout guaranteed each player at least $1.5 million and a $6 million prize for the winner. Jannik Sinner won for the second straight year.
In 2024, the ATP and WTA signed a sponsorship agreement with PIF, which made the $925 billion fund the naming partner of their respective rankings. Saudi Arabia also hosts the Next Gen ATP Finals in Jeddah for the best 21-and-under players. The five-year deal kicked off in 2023.
SURJ launched in 2023, with its first outlay a $100 million investment in the Professional Fighters League. In July, SURJ led a new round of funding for the Professional Triathletes Organisation, which operates professional and amateur triathlons around the globe.
