"We look forward to sharing the journey of our talented players across the season, as we continue to grow the sport, creating more fans of tennis and inspiring more young people to take up the game," said Marina Storti, CEO of WTA Ventures, in the joint statement. PIF will become the "first-ever naming partner of the WTA Rankings".

"Through our partnership with WTA, PIF will continue to be a catalyst for the growth of women's sport," said Mohamed Alsayyad of PIF in the statement. "This partnership aligns with our ambition to elevate the game and bring positive growth to the sport around the world."

The partnership between the WTA and PIF follows the recent announcement of the WTA Finals, featuring the top eight singles players and doubles pairings, being held in Riyadh for the next three years, starting this year.

Saudi Arabia's push to become a sports hub is part of a broader effort to soften its conservative image. This rebranding is pivotal to the success of its Vision 2030 agenda, aimed at preparing the world's largest crude exporter for a thriving post-oil future.

Last year, the kingdom hosted its inaugural ATP Tour event with the Next Gen Finals. It has also organised exhibition matches featuring top players like Novak Djokovic, Carlos Alcaraz, Aryna Sabalenka, and Ons Jabeur.

In early January, Saudi Arabia appointed Rafael Nadal as the ambassador of the Saudi Tennis Federation. Additionally, the nation hosts Formula 1 and MotoGP Grand Prix races, as well as the Dakar rally-raid. Over the years, it has attracted numerous high-profile football players to its national league.

Moreover, the country has been the venue for several noteworthy boxing matches, including the recent heavyweight unification bout between Oleksandr Usyk and Tyson Fury last Saturday.