The ATP released a statement rubbishing reports that they decided to introduce a new Masters 1000 event in Saudi Arabia. The tours and various stakeholders in tennis are meeting for private talks during this week's Madrid Open, where multiple issues are on the table - including more involvement with Saudi Arabia's Public Investment Fund.

Amid the talks taking place in Madrid, reports emerged claiming that the ATP would officially introduce a 10th Masters 1000 event in Saudi Arabia into the calendar from 2025. But the men's tennis tour was quick to shut down speculation and clear up rumours as they released a strongly worded statement on Thursday.

"We are aware of reports in the media claiming that a decision has been reached concerning a 10th ATP Masters 1000 tournament. We would like to clarify that these reports are inaccurate. No decisions have been made and any updates will be communicated at the appropriate time," the ATP Tour wrote on X (formerly known as Twitter).

There has been chatter about adding another Masters tournament to the calendar in Saudi Arabia for the last few months. And things became more serious when The Telegraph reported that the PIF was offering seven figures to be involved in a merger between the two tours.

The deal is said to be one of the topics up for discussion this week in Madrid. If a Saudi Arabia Masters event is added to the calendar, it is expected to be staged at the beginning of the season ahead of the Australian Open, causing chaos for Tennis Australia which holds the United Cup at the start of the year.

The ATP already has a "strategic partnership" with the PIF and stages the Next Gen Finals in Jeddah, while the WTA Finals will be heading to Riyadh this season on a three-year deal. The various governing bodies in tennis are also exploring the option of introducing a Premium Tour, an elite circuit comprising the four Grand Slams, the Masters events, a team tournament and the ATP and WTA's season-ending championships.

The Premium Tour would give the Majors more involvement while the smaller 500 and 250-point events would be relegated to a smaller circuit. The ATP, WTA and the four Grand Slams have not yet commented on the meetings taking place this week, with the exception of the men's tour's latest statement on the Saudi Arabia reports.

But the players are aware that talks are taking place, with ATP No. 3 Carlos Alcaraz addressing them earlier this week. "Well honestly, I'm hearing everything. Obviously I'm sitting with them and we are speaking about it," he said ahead of the Madrid Open.

"But it's difficult work and a long work as well if that fits into the tennis calendar. Right now, the tennis calendar is so tight. They have to find the right time, they have to find what is going to be or what is going to be next. But right now I'm thinking just to practice, just to get better and those things are going to be aside for me. But obviously I hear everything."