Singapore would be the ninth city to be the site of the championships since they began in 1972. The tournament is set for Istanbul, Turkey, this year, the third year of a contract there.
"It gives me great pleasure to announce that the sensational city of Singapore has won the right to host the WTA Championships, the WTA's crown jewel season finale, for the next five years from 2014 to 2018," WTA Chief Executive Officer Stacey Allaster said at Wednesday's announcement. "This is the largest and most significant WTA Championships partnership in our history. It's a record-breaker."
The WTA said the top eighth singles players and top eight doubles teams would be invited to the championships in Singapore. The event would have a record purse of $6.5 million.
The tournaments will be played in the 7,500-seat Singapore Indoor Stadium, which is part of the $1.3 billion Singapore Sports Hub.
Celebrity Families of 2014 [PHOTOS]