SINGAPORE (AP) — The WTA has signed a five-year deal to host its season-ending championship in Singapore from 2014.
WTA chairman and chief executive Stacey Allaster said the top eight singles players and top eight women's doubles teams will compete for $6.5 million in prize money from next year, describing the deal with Singapore as a "record breaker" for "the WTA's crown-jewel season finale."
The WTA announced the deal for 2014-18 on Wednesday, saying the event would be held at the $1 billion Singapore Sports Hub's 7,500-seat indoor stadium.
Singapore was selected from a shortlist of Tianjin, China and Monterrey, Mexico after bidding attracted 43 expressions of interest from cities around the world.
"This is the largest and most significant WTA Championships partnership in our history," Allaster said.
The WTA said with the addition of Singapore to the calendar, 23 WTA events will be staged in the Asia-Pacific market in 2014, more than any other region in the world.
Three-time champion Serena Williams said she looked forward to trying to qualify for Singapore.
"I've been fortunate to qualify for WTA Championships in five different cities during my career, and I know that our new partners in Singapore and the fans of Singapore will help take our Championships to new heights."
Singapore will become the ninth city to host the WTA Championships following Boca Raton, Los Angeles, Oakland, New York, Munich, Madrid, Doha and Istanbul, Turkey, venue for the 2011-13 editions.