The LPGA and Ladies European Tour will co-sanction a new event in partnership with Golf Saudi to be staged next year in Las Vegas, the LPGA announced on Wednesday.

The $4 million Aramco Championship at Shadow Creek Golf Club will be contested April 2-5 with a 120-player field featuring top talent from both tours.

The 72-hole tournament will mark the first co-sanctioned event by the LPGA and LET as part of the European circuit's Saudi Arabia Public Investment Fund-backed Global Series.

LPGA commissioner Craig Kessler said the new event "reflects exactly where we're headed in building the global schedule for our tour," citing the course and prize money.

"We also recognize that partnerships like this -- built on the LET's longstanding collaboration with Golf Saudi and PIF -- can help strengthen the women's game on a global scale and elevate opportunities for our athletes."

The LPGA Match Play tournament has been contested annually at Shadow Creek since 2021.