The inaugural Saudi Arabia Snooker Masters is the second most lucrative event on the calendar behind the World Championship - but the winner's cheque is equal to that of the Crucible king.
A total prize fund of £2,000,000 is on offer at the Green Halls in Riyadh from August 29 to September 7, when the likes of Ronnie O'Sullivan, Judd Trump and world champion Kyren Wilson will be chasing a pot of gold.
It's second only to the World Championship prize pot, which totalled £2,395,000 back in May, with Wilson walking away with a £500,000 after defeating Jak Jones 18-14 in the Sheffield showpiece.
In fact, from the last 16 onwards, there is £1,580,000 to play for in both tournaments, with losing players receiving exactly the same amount as they would in the corresponding rounds at the Crucible.
Saudi Arabia first threw their financial weight into the sport earlier this year for an invitational World Masters that featured an ultimately redundant 'Golden Ball' worth 20 points available for any player managing to compile a 147 break. However, it's only action for the entire week was being routinely picked up by the referee and removed from the table as soon as a maximum ceased to be possible.
O'Sullivan received £250,000 from a total prize fund of £785,000 for overcoming Luca Brecel in the final and he'll be favourite to triumph once again in a Kingdom where he's signed a three-year ambassadorial deal.
This time, however, there will be 144 players trying to benefit from a bumper prize fund and while there's clearly no history to see it rival many other tournaments on the calendar from a 'prestige' perspective, nobody can argue that financially - and ranking-wise - this is suddenly one of the most important for any player to win.
Whether Saudi Arabia's involvement in the sport sits right with you from a moral standpoint or not, this tournament is here to stay and build up its own history after a 10-year deal was struck between Saudi Arabia’s Ministry for Sport, the country’s snooker federation and Matchroom, the parent company of WST.
In fact the Saudi Arabia Snooker Masters has already been dubbed snooker's 'fourth major' behind the Triple Crown events of the World Championship, the UK Championship and the Masters - while it's probably fair to say that the players would now rather get their hands on this t̶r̶o̶p̶h̶y̶ cheque than the Tour Championship.
There's also £50,000 maximum break side pot available to players who manage a 147 and that might possibly be enough to tempt the Rocket into making a record-extending 16th in professional competition - and his first since the 2018 English Open when he began his 'strike' from attempting any more due to lack of financial incentive.
Riydah could quite possibly witness some iconic moments in the careers of snooker's biggest names, with O'Sullivan bidding to equal Steve Davis' record of 84 professional snooker titles while Trump (992) and John Higgins (998) are on the brink of scoring their 1000th centuries - a feat that only the Rocket has ever achieved.
There's more on the bumper draw details below but for now here's how the Saudi Arabia Snooker Masters ranks compared to the rest purely from the Hearns' favourite barometer; money.
Players seeded 81-112 will face those seeded 113-144 in the first round (losers receive £2,000) - featuring the likes of Jimmy White, Reanne Evans, Stan Moody and Ken Doherty - on August 30 and those winners will subsequently face those seeded 49-80 on August 31 in round two (losers receive £4,000).
Those winners will battle it out against the players ranked 17-48 in the third round (losers receive £7,000), which includes the likes of Robert Milkins, Stuart Bingham, Hossein Vafaei, Jack Lisowski and Neil Robertson, on September 1 with the winners of those ties facing each other in round four (losers receive £11,000) on September 2 for the right to join the world's top 16.
From this stage onwards, the prize money received by losing players is exactly the same as the corresponding rounds at the Crucible.
Best of 9 frames. Losers receive £20,000
Best of 11 frames. Losers receive £30,000
Best of 11 frames. Losers receive £50,000
Best of 11 frames. Losers receive £100,000
Best of 19 frames. Winner earns £500,000, Runner-Up £200,000
You can watch every day of the Saudi Arabia Snooker Masters 2024 live on TV on Eurosport. It is available both live and on-demand on discovery+.