By SABC Sport
6th February 2024
The 6 Kings Slam will also feature Wimbledon champion Carlos Alcaraz, new Australian Open winner Jannik Sinner and former world number one Daniil Medvedev as well as young Danish star Holger Rune.
Nadal, who was recently named as an ambassador for the Saudi Tennis Federation, said: "After some other tennis players have done so, I am very excited to play for the first time in Riyadh."
The kingdom has hosted a December exhibition in recent years, while the Next Gen ATP Finals for the best players 21 and under was held in Jeddah for the first time last year.
The final dates have yet to be announced for the new tournament, and interestingly it is during a busy month in the ATP season, with Masters events in Shanghai and Paris.
It is another indication that Saudi influence in the sport is growing, although talk of a 10th Masters event in the country for the moment remains just that.
Saudi Arabia, meanwhile, remains hot favourite to be named as the next host of the WTA Finals in what would be its first major women's sporting event.