BEIJING, March 28 -- Shanghai will host one of the ATP Masters series after the men's governing body decided against renewing the season-ending Tennis Masters Cup, which ends in 2008.

The proposed Shanghai showpiece, starting in 2009, will be the only one to be staged in Asia. It will be one of the eight top-tier tournaments. The current series incorporates nine tournaments across the world but has no presence in Asia.

"It is so heartening to know that Shanghai is the first Asian city to host an ATP Masters Series event," said Yu Chen, Director of Shanghai Administration of Sport.

"After the Tennis Masters Cup Shanghai, the Masters series will give a further boost to the game's popularity in the city, and in the country as well."

The Masters Cup was first staged in Shanghai in 2002 and returned later in 2005 with a unique honor of hosting it for four years - until 2008, after which it heads to Europe.

No schedule or venue details have been released about the new franchise although it's near certain that the new series will be played at the suburban Qi Zhong Tennis Center, home of the Tennis Masters Cup.

The size of prize money is expected to be somewhere between US$4-5 million and will have a field of 64.

(Source: Shanghai Daily)