The tournament has seen considerable growth since BNP Paribas first signed on 17 years ago, consistently drawing large crowds to the palm-tree-lined Indian Wells Tennis Garden for an event organizers have dubbed "Tennis Paradise."

Players have voted it their favourite ATP Masters 1000 and WTA 1000 event for the past 10 years.

"When there is a good marriage, you stick with it," Jose Placido, Chief Executive Officer of BNP Paribas United States America, told a press conference.

"We may have bumps in the roads and so on and so forth, but they made it easy for us to be the title sponsor, and we want to continue," he added. "Like any good marriage, you just renew your vows every five years. In this case, we signed a new contract."

Financial terms of the deal were not disclosed.

--Reuters--