Seles, the seventh seed and former top-ranked player in the world, suffered the injury practicing over the weekend at her home in Sarasota, Fla.
Currently the 10th-ranked player in the world, she captured this title in 1992, and was a semifinalist at Indian Wells last year.
"I'm really disappointed I won't be able to make it to Indian Wells this year," Seles said. "It's such a wonderful tournament, and I was looking forward to the Pacific Life Open after reaching the semifinals last year. I've had some great matches in Indian Wells and some very fond memories, especially winning the title in 1992."
By skipping this week's $2.1 million event, Seles can rest the injury until her next scheduled appearance, the NASDAQ-100 Open in late March.
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