For the second straight year, the Miami Open will not include Rafael Nadal or Novak Djokovic, the latter of whom announced his withdrawal on social media just four days prior to the opening round.

The draw will still include many of the top players, including each quarterfinalist from last year on the men's side.

On the women's side, world No. 1 and former 2022 Miami Open champion Iga Swiatek will be back in action after missing the 2023 Miami Open due to a rib injury, while 2023 Miami Open champion Petra Kvitova will be absent after announcing her pregnancy at the beginning of the new year.

The 2024 Miami Open, which began Tuesday at Hard Rock Stadium in Miami, is not a Grand Slam tournament, though as a Masters 1000 event, it still includes a heavy purse for its participants.

Here's a breakdown of the potential earnings for the 2024 Miami Open as well as more about this year's event.

ATP and WTA Prize Money

Winner: $1,100,000

Runner-Up: $585,000

Semifinalists: $325,000

Quarterfinalists: $185,000

Full purse details courtesy of ATP Tour

Men's and Women's Preview

On the men's side, the tournament returns most, if not all, of its players while adding Tallon Griekspoor and Sebastian Korda, two top 30 players who were absent last year.

Reigning champion Daniil Medvedev is back in the draw, though he is not the favorite to win the tournament.

Carlos Alcaraz and Jannik Sinner have both troubled Medvedev in the past and are in much better form as of late.

Alcaraz just defeated Medvedev in the 2024 BNP Paribas Open final, while Sinner defeated Medvedev in the 2024 Australian Open final.

The two youngsters are arguably the most in-form players on the tour right now.

While either of them can win, the draw allows the possibility of an Alcaraz versus Sinner clash in the finals, something that ultimately might happen.

Defending champion Petra Kvitova will not be playing this week in Miami after announcing her pregnancy at the beginning of the year; though, this draw is still loaded with talent.

Both Iga Swiatek and Naomi Osaka, the champion and runner-up of the 2022 Miami Open, will be back in action.

Other headlining players include world No. 2 Aryna Sabalenka, who will be vying for her sixth career WTA Masters 1000 title.

Elsewhere, world No. 4 Elena Rybakina will aim to avenge her 2023 Miami Open Finals loss, while world No. 3 Coco Gauff will look to win her second career WTA Masters 1000 title after winning the 2023 Cincinnati Open.

While Sabalenka, Rybakina, and Gauff are expected to be Swiatek's toughest challengers, the 22-year-old Pole has gone 13-1 in completed matches since losing in the third round of the 2024 Australian Open and is expected to hoist her second trophy in Miami.