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The ATP finals will move from London to Turin after the Italian city has been named host of the event from 2021 to 2025.
Manchester, Singapore and Tokyo were also among the five cities selected to host the end-of-season tournament.
It has been held at O2 Arena London since 2009, but will be transferred to the Pala Alpitour stadium.
"We believe that Turin has all the ingredients necessary to take the event to new heights," said ATP Executive Chairman Chris Kermode.
The ATP finals bring together the top eight players in the world singles and doubles teams of the season and will boast a record $ 14.5 million in 2021.
Turin will be the 15th city to host this event, and the first in Italy since its first edition in 1970.
A cumulative total of more than 2.5 million spectators watched the ATP finals at the O2 Arena, which will host the event in 2019 and 2020.
The Pala Alpitour Stadium, opened in 2005, with a capacity of around 15,000 seats, is the largest indoor sports complex in Italy.
The world number one Novak Djokovic, who lost to Alexander Zverev in the final last year, said: "The ATP final is the most important and prestigious event. from ATP.
"It's a tournament that has always moved and I'm very happy to see him moving to Turin from 2021."
Italy are also hosting the Next Gen ATP finals, while Milan is organizing the first five editions of the tournament for players 21 and under from 2017 to 2021.
Analysis
BBC tennis correspondent Russell Fuller
With the exception of Madison Square Garden in New York, no other city has hosted the ATP finals as long as London.
The event needs to be moved and the world number one and the chairman of the ATP Players Council, Novak Djokovic, have already advanced this argument.
The 12-year run of the O2 Arena has been a phenomenal success, consistently attracting over 250,000 people with style and panache. The start of the final deprives British tennis of a place of choice – in a bygone era – to present the sport.
Turin has a hard time keeping up. But there is a lot of money behind this offer.
The prize money will increase by more than 50% and put men on an equal footing with women.
The current disparity had not gone unnoticed by ATP players. The price of the London prize this year will be $ 9 million; in Shenzhen, at the beginning of a 10-year series in China for the finals of the WTA, it will be $ 14 million.
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